2090 S Gray Dr, Lakewood, CO 80227
4 beds · 3 baths · 3,509 sqft
Sellers have a VA loan at 2.75% interest that is assumable to buyers. Buyers don't need to be Veterans to assume the loan! Beautiful curb appeal on this massive corner lot tucked away on a quiet street in the sought-after Lakewood Estates neighborhood. It is rare to find a Lakewood Estates home with a 3 car garage! This home not only has the 3 car spaces, but also has a giant workshop. 4 bedrooms that are all located on the upper floor plus a large main floor office just off the entry. The spacious eat-in kitchen features newer stainless appliances, gorgeous granite countertops, peg board wood flooring and opens to the breakfast nook and family room. Character fills the family room with wood beam vaulted ceilings, a brick surround wood burning fireplace, a window seat and custom built-ins. The main floor also offers a formal dining room, a front living room just off the entry, a powder bathroom and of course the very large office. Upstairs you will find 4 generously sized bedrooms. The primary suite faces South, has a 5 piece en-suite bathroom and a large walk-in closet. One of the secondary bedrooms provides the perfect option for a second home office or playroom with built-in shelving and desk. The possibilities are endless with the full basement that is currently unfinished. Use your imagination for this incredible amount of additional square footage. Outside you will find a well situated back deck just off the kitchen area. The fully fenced and private backyard has a perfect garden area and beautiful mature landscaping. The home is move-in ready with all new windows, new carpeting and a newer roof. Lakewood Estates is conveniently located close to shops, restaurants, bars, fitness facilities and highway access. A short walk to multiple parks or a short drive to central Denver and Belmar or head 10 minutes west to the mountains and have access to many hiking/biking trails. For more details about this quintessential home please visit www.LakewoodEstatesListing.com
Source: RECO #7005771
Financials
Source: Public records
Source: RECO #7005771
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.
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 “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.
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