1376 B St, Penrose, CO 81240
3 beds · 2 baths · 2,356 sqft sqft
Glorious privacy and big sky mountain views cannot be beat here at this private 10-acre paradise in the high desert mesa of Penrose, Colorado! This 3 bedroom, 2 bathroom, 2356 sq ft manufactured home was built in 2001, and has been well-maintained and wonderfully updated with new carpet just installed in the living room, family room, and all 3 bedrooms. You will absolutely love the peace and quiet and the ever-changing skies as you gaze from almost any vantage point at the surrounding mountain ranges, from the Wet Mountains stretching to the South and a clear view of Pikes Peak to the North. Enjoy entertaining or relaxing on either of two decks that face each view! Large kitchen/dining combo featuring beautiful laminate flooring and bonus family room with wood-burning fireplace make this home feel both spacious and cozy. Split-bedroom layout, lofted ceilings and large double-pane vinyl windows give this home a bright and airy feeling. Once you make yourself at home, you won’t want to leave your master bedroom retreat with walk-in closet, and an enormous 5-piece ensuite bathroom with double doors, a modern soaking tub, and 2 separate vanities! Refrigerator, oven/range, dishwasher, microwave, washer, dryer, plus two upright freezers are included! There is a good well on this property and a new septic tank installed Oct. 2024. 3-car garage/workshop with RV-sized bay and separate office in shop checks the rest of your boxes to truly make this your home-sweet-dream-come-true!
Source: PPMLS #5141948
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #5141948
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: #5141948
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.