12272 Monarchos Ln, Colorado Springs, CO 80921
5 beds · 4 baths · 4,514 sqft
Elegance Elevated. Views Inspired. Backing to open space, this Goetzmann Custom Home seamlessly blends luxury, design + nature, offering breathtaking views of Pikes Peak, Air Force Academy + Front Range. Step inside to experience soaring ceilings, walls of windows + an open-concept layout designed for elevated living. The GR features a floor-to-ceiling stone fireplace, rich wood beams + a seamless flow into the gourmet kitchen. Designed for form & function, the kitchen showcases premium stainless appliances, gas cooktop, dual ovens, slab granite counters, soft-close dual tone cabinetry + a striking alder island set the stage for effortless entertaining! The primary suite is a private retreat, boasting vaulted ceilings, breathtaking views, custom walk-in closet syst + a spa-inspired ensuite. Indulge in the soaking tub, frameless walk-in shower, extended vanity w/dual sinks + heated tile floors. A junior suite w/private bath, dedicated office w/French doors, powder rm, lg laundry room + owner’s entry workstation complete the main lvl. The walk-out lower lvl offers endless possibilities w/9’ ceilings, a spacious RecRm, gas fp w/stone surround, built-in speakers + pre-plumbing for a future wet bar. Add’l above-grade bedrooms w/walk-in closets provide ample guest space, while the flexible fitness room can easily convert into a 5th bedroom w/en-suite potential. Outdoor living is equally exceptional w/a covered composite deck (plumbed for gas), extended patio & professionally designed landscaping w/mature trees + gas line for a fire pit. Add'l Features: Hardwood Floors, 10-12’ ceilings, hand troweled walls + 8' Alder Doors on Main, Finished Garage w/Coated floors, 25 drawers in Kit, Dual-zone HVAC, Humidifier, Sec Sys + Integrated Speakers. Located in The Farm’s vibrant lifestyle community w/ponds, clubhouse, seasonal pool, 25-acre park, miles of trails + nature preserve. With award-winning D20 schools, shopping/dining + easy I-25 access! *Assumable Loan*
Source: PPMLS #1021078
Financials
Source: Public records
Source: PPMLS #1021078
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.