1905 MANITOBA DR, Colorado Springs, CO 80910
Discover comfortable living in this beautifully remodeled two bedroom, one bathroom ranch style home. Nestled in a well-established, peaceful neighborhood, close to downtown. This property is a charming, MOVE-IN READY home with thoughtful updates both inside and out, offering comfort and convenience in a desirable neighborhood. As you step inside, you are greeted with an open, inviting, living space. The living room has a cozy nook for a window seat. The kitchen includes new cabinetry, new countertops, some new appliances, new flooring, and a spacious new breakfast bar. Both bedrooms have been updated with brand new flooring. Both bedrooms contain large closets that offer plenty of storage and organizer space. The bathroom has been updated with a beautifully tiled surround, new flooring, and tub. It also includes an area with some extra shelving for additional storage. The downstairs has been renovated and offers a clean slate for a craft area, play area den or storage. New appliances have been added to the basement laundry area. The entire interior has been refurbished with all new fresh paint and new flooring throughout. The exterior of this home has had a complete update as well; fresh exterior paint, yard clean up, even front columns installed to add that special touch. There is also a very large parking area with a portion fully covered, along with a 15’ x 12’ shed / storage space on the back side of the home. Be prepared to enjoy a cup of coffee or entertain the evening away on your spacious composite back deck, enjoying the beauty of Colorado. Conveniently located near schools, parks, and medical, this home offers easy access to everything you need. Additionally, major commuting routes are within close proximity, making travel a breeze. *Don't miss the opportunity on this thoughtfully remodeled charmer! Welcome HOME!*
You may be able to put down less than the total down payment amount of $132,157 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #4681146
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