16424 E Phillips Dr, Englewood, CO 80112
6 beds · 4 baths · 3,108 sqft
Welcome to this spacious and well-maintained 6-bedroom, 4-bathroom home featuring a versatile and open floor plan. Enter the home and notice the gorgeous real wood floors, brand new interior paint and brand new carpet in the spacious great room. The kitchen with space for eat in dining and large pantry, over looks the dining room and great room with the gas fireplace and tons of natural light. Notice the real wood staircase and head up to the 4 bedrooms including the great sized primary room with walk in closet. The primary bathroom features an updated large shower. The finished basement includes a kitchenette, laundry hookups, two bedrooms, a full bathroom, and a large family room, making it perfect for a mother-in-law suite, bounce back kids "apartment" or guest quarters. The home boasts newer exterior paint, fresh interior paint, brand-new carpet, a newer furnace, a new roof installed in 2023 and paid off solar energy panels. With no neighbors directly behind, you'll enjoy added privacy in the backyard on the stamped concrete patio that extends the full length of the house. Plus, a 2-car garage provides plenty of parking and storage. Located close enough to the highway for easy access to the airport or to head up to the mountains, very close to all of the shopping off of Parker and Arapahoe Roads and close to Broncos training camp!
Source: RECO #5813883
Source: RECO #5813883
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: #5813883
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