12621 Woodruff Dr, Colorado Springs, CO 80921
5 beds · 4 baths · 4,655 sqft
Welcome to your new custom Rancher located in the highly sought after neighborhood in Stone Crossing. This beauty is located on a quiet cul-de-sac street. When you walk into this home, it will take your breath away. From the vaulted ceilings with huge wood beams, to the newly refinished wood floors, and all of the natural lighting throughout. The open concept living area features a beautiful niche fireplace wall. The kitchen in this home is a cooks dream. From the beautiful cabinetry, large kitchen island, a butlers pantry, and stainless steel appliances. This home features a main level primary bedroom. The primary boasts a bay window sitting area, an adjoining bathroom, and a huge walk-in custom closet. On the main level you will find a spacious office, additional bedroom, laundry room, and bathroom. Going down to the expansive basement, it includes a large family room with a second fireplace, a stone accent wet bar designed for entertaining, and a junior primary suite. You'll also find two more spacious bedrooms, a bathroom, and another laundry room. This home sits on the most serene 0.38 acre lot. The yard is beautifully landscaped with towering mature trees. The hot tub is perfect for unwinding after a long day. Adjacent to the hot tub is a cozy stone fire pit seating area, ideal for enjoying evening conversations under the stars. Stone Crossing offers peaceful living but close proximity to shopping, restaurants, and so much more. Enjoy walking on the many trails it has to offer, while having views of Pikes Peak. Come fall in love with this home today.
Source: PPMLS #7268599
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #7268599
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #7268599
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.