13256 Cedarville Way, Colorado Springs, CO 80921
5 beds · 3 baths · 4,266 sqft
What a great property at the end of a cul-de-sac. Open ranch design with wood flooring throughout most of the main level. Neutral beige wall colors throughout. Large gourmet kitchen with new appliances, island, pantry and granite countertops opening to the great room with a stone gas fireplace and access to the rear yard. The bedroom #2 is currently being used as a home office. The primary suite has room for a sitting area and adjoins to a lavish 5-piece bath. The front living room can also work well for a formal dining room. The lower level has a large family room with gas fireplace, u-shaped wet bar and new luxury vinyl flooring. Bedroom #5 is the current theater room. What a great place to entertain and watch the game. 2 additional bedrooms with walk-in closets and a full bath finish out the lower level. The rear stone patio features a large pergola, a well-manicured yard with landscape lighting and is fenced. A 3-car finished garage is attached. The exterior was repainted 2 years ago, the LVF was installed during the same time period. All the new appliances remain to include the washer and dryer, plus the attached TV's. Theater equipment is negotiable. What a great value!
Source: PPMLS #7652551
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #7652551
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: #7652551
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.