194 Spruce Ln, Woodland Park, CO 80863
3 beds · 2 baths · 1,416 sqft
Charming true log home full of character and personality nestled on 1.86 acres close to the city of Woodland Park. Large covered front porch to take in the fresh Colorado air. Newer Pergo floors on the main level and newer laminate floors on the upper level. The Living Room has log beams, a wall of windows that bring in lots of sunshine, built-in shelves, and a wood-burning fireplace w/ insert to cozy up to on chilly nights. The Dining Room opens to the Kitchen and has several windows that provide lots of natural light! The Kitchen features tile floors, ample cabinets with ceramic tile countertops for kitchen storage and easy food preparation. Stainless steel appliances include a smooth top range oven, dishwasher, side by side refrigerator, and vent hood. Main Level Powder Bathroom. Walk out to a small deck perfect for outdoor dining and relaxation. Upstairs hosts 3 Bedrooms that share a Full Bathroom with vanity, mirror, and tub/shower. The Primary Bedroom has beamed ceilings and offers double closets. The Utility Room in the Basement offers a washer, dryer, sink, and extra room for extra storage. There is a versatile Bonus Rm with a walk out to the driveway. Outside there is a large, fenced area for pets and you are surrounded by beautiful mature trees and greenery. Enjoy the wildlife that comes to visit. 1-car attached garage plus ample parking on the property for an RV or small boat storage. Don't miss the opportunity to make this charismatic home your own! You'll be glad you did!
Source: RECO #6297011
Interest rate and monthly payment estimated based on public records.
Source: RECO #6297011
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: #6297011
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