1820 Lanka Ln, Colorado Springs, CO 80915
3 beds · 2 baths · sqft sqft
Welcome to your dream starter home! Walking in the front door, you will notice the expansive green lawn which you won’t have to mow because the HOA takes care of all that for you! AND, the HOA includes trash, snow removal, exterior maintenance, roof, and more! While this location is in the heart of Colorado Springs, it is also in a small unincorporated area. What does that mean? Yep, you guessed it! Both your insurance premium, and unincorporated taxes are a tremendous benefit for you! Inside you will notice the massive kitchen! Chefs will love this large, open kitchen, and it’s even big enough for a portable island! The large pantry even features custom storage for all your spices! Opening to the living room you will enjoy continuing conversations with loved ones or watching your favorite show while cooking. The living room features a WOOD BURNING, stone fireplace with mantel and a beautiful bay window. Also on the main level is a convenient, contemporary half bath. The back door from the kitchen opens to your private, enclosed patio and an oversized shed for additional storage. Upstairs your master retreat features TWO closets, and plenty of light. Two additional bedrooms overlooking the front range, great views of Pikes Peak, and a roomy full bathroom with shower and tub complete this level. Brand new paint in neutral colors, and BRAND NEW flooring! Brand new roof too! Idyllic setting for pets and children to play, ride bikes, play ball, and Evans Elementary is located just across the street. Nearby walking trail to East Ridge Park and the dog park. Near the fire station and shopping center with Planet Fitness. Plenty of parking for all your guests. This is a beautiful home with easy proximity to the main arteries of Colorado Springs including the Powers corridor with restaurants, shopping, parks. Easy commute to Peterson, Schriever, and Fort Carson military bases! Better hurry, because this one won’t last!
Source: PPMLS #5370802
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #5370802
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: #5370802
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.