1340 Almagre Peak Dr, Colorado Springs, CO 80921
3 beds · 4 baths · 2,779 sqft sqft
Welcome to this stunning tri-level home in the quiet community of Trail Ridge at Northgate. Situated on a generous corner lot, this residence boasts unobstructed Pikes Peak mountain views right from the front yard, providing a picturesque backdrop to your everyday life. The front yard features a low-maintenance and water-resistant xeriscaped design, offering both beauty and practicality. As you step inside, you'll be greeted by a harmonious blend of formal and informal living spaces, highlighted by vaulted ceilings that create an open and airy atmosphere. The heart of the home is the spacious eat-in kitchen, adorned with granite countertops, newer stainless steel appliances, and a charming bay window. Upstairs, discover three bedrooms, including the primary suite with vaulted ceilings, a walk-in closet, and a newly remodeled bath featuring a spa shower for a touch of luxury. The lower level presents a cozy family room with a fireplace and convenient walk-out access to the backyard. Additionally, a lower-level office with French doors offers a perfect space for work or relaxation. The finished basement provides built-in cabinets, egress windows, and a nearby bath, offering the flexibility to create a fourth bedroom if desired. Numerous updates enhance the home's appeal, including remodeled bathrooms, fresh interior and exterior paint, updated light fixtures, a new furnace and water heater. The utility room provides ample storage for your convenience. The private backyard is a low-maintenance oasis, surrounded by shrubbery that ensures privacy from neighbors. Enjoy unobstructed views of the Air Force Academy Chapel, creating a serene and picturesque outdoor space. The tranquility of the backyard is complemented by the nearby park with fountains and walking trails, providing an ideal setting for relaxation and recreation. This home is close to schools and offers easy access to various amenities. New carpet just installed!
Source: PPMLS #5251148
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #5251148
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: #5251148
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.