1632 Derbyshire St, Colorado Springs, CO 80910
5 beds · 4 baths · 3,698 sqft
Welcome to this gorgeous 5-BR/4BA/3GA home with views of the Front Range and Pikes Peak! Located in the sought-after Broadmoor View at Spring Creek community, it is just minutes from downtown Colorado Springs, easy access to I-25, Peterson AFB, Ft Carson, COS airport, World Arena, zoo, entertainment, shopping, dining, hiking, and more. Entering via the large covered front porch, the modern, open floor plan greets you with high ceilings and lots of windows bringing in natural light. The living room has a beautiful, cozy fireplace. The gourmet kitchen boasts granite countertops, a bar seating island, 5-burner gas stove, abundant storage, a walk-in pantry, and a separate mini-bar with fridge. The spacious dining area, with adjacent walk-out to the deck, is perfect for gatherings with family and friends. The large deck has a retractable awning, great for sitting out on a warm summers night and enjoying the view of the mountains. Also on the main floor, and perfect for guests, you will find a nice sized bedroom (could be used as office as well) with a 3/4 bath next to it. Enter from the 3-car (674 sf) garage thru the mud room leading into the house. Luxury vinyl plank floors throughout the main floor area. The spacious upper level boasts an enormous MBR, a beautiful 5-piece bath and walk-in-closet with custom shelving. Further, there are two additional good-sized bedrooms, a full bath, and a large laundry room with custom shelving and front-load washer and dryer. The finished basement has a very large, bright, family room with walk-out, another bedroom, and a full bath. Outside, you’ll find the lower concrete patio (21x26 sf) with retractable privacy screens. This 3698 sf home was built on a premium lot in 2018, has AC, high end shades on all windows, privacy fencing, pre-wired for hot tub, and remainder of 10 yr builder warranty! The acclaimed K-12 Vanguard School (Public Charter School) is in short driving distance. This is a fantastic home and an absolute must-see!
Source: PPMLS #1507827
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: PPMLS #1507827
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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.
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 “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.
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 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.