1333 Hanover St, Aurora, CO 80010
4 beds · 2 baths · 1,714 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to 1333 Hanover St in Aurora, Colorado. This well built ranch style has been well cared for and updated by the long time owners. All new copper water supply lines just installed! This home features a nice size living room and dining room. The updated kitchen is laid out for smooth function and has a new refrigerator and stove/oven. There are two bedrooms and an updated bathroom also on the main floor. Original hardwood floors throughout main floor under existing laminate and carpet. The basement features a large landing area, family room, full bathroom with jacuzzi tub and two non conforming bedrooms. Outside you will find stone siding, a large flat yard with big patio and lighted and covered gazebo. Low maintenance imitation grass and a large garden area will make Spring and Summer months very enjoyable in your private yard. There is also a detached one car garage and a storage shed. Stay cool with central air conditioning. Minor hail damage on roof recently repaired and includes 5 year warranty. New attic insulation. Two grills are included. Quiet established neighborhood and close to Fitzsimons and Children's Hospital. Walk to shopping, restaurants and elementary school. ***This property qualifies for the Guild Mortgage Community Lending program. What that means for a buyer is this; The rate is around .5% better than the market rate. Option 2- The Buyer can take a market rate and get a credit around 1% of the home value in a lender credit. Roughly $4,500 in this case. This product has no income limits as well. Therefore, they don’t need to have low income or be a 1st time homebuyer to take advantage of the deal. They will also qualify for the reduced rates when they go to refinance down the road since it is for any transaction, not just the purchase.***
Source: RECO #4740273
All values shown are estimated costs / mo.
Source: Public records
Source: RECO #4740273
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.
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.
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.
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.
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.
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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