11848 Alydar Loop, Colorado Springs, CO 80921
4 beds · 4 baths · 3,585 sqft
Backing up to dedicated open space, trails, and views of Pikes Peak, this beautiful 2-story "Brentwood" floor plan built by Vantage Homes in the sought-after "The Farm" neighborhood is ideally located in the heart of Northern Colorado Springs. On the main floor, you'll find an upgraded gourmet kitchen with quartz countertops, a double oven, a gas cooktop, and a huge island with a breakfast bar. Adjacent to the kitchen is the dining area with mountain views, living room with soaring ceilings and lots of natural light, and an office/flex space that could be turned into an extra bedroom. Upstairs, the primary bedroom with 5-piece bath and spacious closet offer a welcoming retreat. Also upstairs, there are 2 additional bedrooms, a laundry room, an additional full bathroom, and a loft/flex area with its own walk-in closet that could also be turned into an additional bedroom for a total of up to 6 bedrooms if desired. Downstairs, you'll find a family room, bedroom, 3/4 bath, and exercise/flex area with newly installed LVP. Walk less than a minute down the street and hop on the 10+ mile park-laden neighborhood trail system where you can explore to your heart's content. From the home, it's only a 5-minute walk to "The Gathering Place" where you can enjoy access to the seasonal outdoor pool, ponds for paddling, fitness center, and other community amenities. Feeling ambitious? Use the neighborhood trails to connect to regional trails where you can venture all the way to downtown Colorado Springs, up to Monument, and even beyond! This tucked-away location in the SW corner of The Farm acts like its own 49-house cul-de-sac of sorts while still providing quick access to the I-25 and Powers corridors along with shopping, dining, and entertainment along Voyager, Interquest, and North Gate. You'll also appreciate the highly rated District 20 school system while being less than 10 minutes from the Air Force Academy. Interested? Schedule a showing and come check it out in person!
Source: PPMLS #8246061
Financials
Source: Public records
Source: PPMLS #8246061
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.