12243 Joplin St, Commerce City, CO 80603
4 beds · 3 baths · 3,834 sqft
Nestled in the peaceful Village neighborhood, this spacious home offers a welcoming atmosphere with friendly neighbors and easy access to Outlook Community Park, just steps away. A classic covered front porch sets the tone for warmth and charm, leading into a beautifully designed interior filled with natural light and an open layout. The grand living room boasts soaring 20-foot ceilings and seamlessly flows into the gourmet kitchen, making it an entertainer’s dream. The kitchen features stainless steel appliances, granite countertops, ample cabinetry, a walk-in pantry, a subway tile backsplash, and a center island with a breakfast bar. A formal dining room provides the perfect space for hosting, while a main-level bedroom and full bathroom add convenience. Upstairs, an oversized loft overlooks the living area, offering a versatile space to suit any need. The primary suite is a retreat with a luxurious five-piece ensuite and a spacious walk-in closet. Two additional bedrooms, a full bathroom, and a convenient laundry room complete the upper level. The unfinished basement, spanning over 1,000 square feet, presents endless possibilities for expansion. Outside, the professionally landscaped backyard features a lush lawn and a brand-new wooden deck, perfect for outdoor gatherings. A 3-car attached garage provides ample storage and parking. The home is ideally located just three doors down from a large community park, with an easy commute to DIA, quick access to E-470 and I-76, and Buffalo Run Golf Course just a short distance away. Recent landscaping completed in January 2024 adds to the home’s appeal, making it a must-see! Backyard recently landscaped 1/24. Welcome home!
Source: RECO #5467254
Source: RECO #5467254
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 620, 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.
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