230 Newman Ave, Black Hawk, CO 80422
3 beds · 2 baths · sqft
Welcome to this affordable 3 bedroom home located just around the corner from Snowline Lake, an exclusive members-only community lake w/ non-motorized boating that is annually stocked w/ trout. This turnkey home is light & bright w/ airy spaces perfect for weekend getaways or full-time living quietly tucked away at the back of a dead-end road w/ almost no through traffic. Bathed in sunshine, this property sits on a perfectly flat 1.22 acres in this coveted neighborhood surrounded by National Forest & multi-use trails making endless recreation easy to enjoy from your door. Step into this comfortable mountain home w/ an open floor plan where all windows & doors have been updated, including plank, tile & carpet flooring. Connect w/ nature in the sunroom that completely opens up to the outside providing forested views & opportunities to watch ample wildlife that frequent the area. Flow seamlessly into a country kitchen w/ island featuring plenty of cabinet & counter space w/ updated SS appliances & tall vaulted ceilings. A large woodstove + a gas stove add supplemental heat to keep this house warm and cozy & can heat the entire house. A dining room adjoins the kitchen & leads to a separate versatile family room. Just a few steps upstairs to a primary bedroom, dedicated office & shared bath w/ Italian tile flooring & updated vanity. Lower-level features 2 bedrooms & a 2nd 3/4 bath. New tankless water heater ensures you never run out of hot water & multiple heat sources provide affordable & reliable heat all year. Sip on your morning coffee out front under a covered front porch or bask in the sun on a wind-protected deck that faces due south. The insulated shed has 110v & 240v electricity making the perfect workshop. Don't miss this opportunity to join this special community that enjoys the low taxes of Gilpin Cty while only being 3 miles to Rollinsville, 7 miles to Nederland & 12 miles to ski Eldora. Located on a school bus route w/ high priority snowplowing in winter.
Source: RECO #IR1022406
Interest rate and monthly payment estimated based on public records.
Source: RECO #IR1022406
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: #IR1022406
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