2555 Hot Springs Ct, Colorado Springs, CO 80919
5 beds · 4 baths · 2,888 sqft sqft
An exceptional 5 bedroom two two-story home with an open concept gourmet kitchen and large living area with a gas fireplace divided only by an expansive island. The kitchen gas range and large refrigerator are part of the appliance package. The "L" configuration of the kitchen allows for an abundance of counter space. The main level bedroom can be a home office or a guest bedroom with a full bath. The dining area is always bright with west-facing windows providing great views of the hillside often frequented by Bighorn Sheep. The walkout from the eating area leads to an amazing rear yard. The rock-paved patio area is centered around a raised stone fire pit with a dedicated gas line and a gas line for the grill. The lawn features meandering paths leading to lush lawns on various levels. The hills and rocks of the front range provide the west border of the outdoor area. The second-floor master suite has floor space and wall space to allow for any required arrangement of large furniture and the same outstanding views as the main level and a five-piece bath. The three additional bedrooms on this level can be configured to accommodate any guest or family requirement with the third full bath. The fifth bedroom and fourth full bath (all baths are full, not three-quarter baths) are in the basement. The rec room is very spacious and is prep-plumbed for a wet bar. The house is wired for CenturyLink, Xfinity, and DirectTV. The home has Cat 5 ethernet throughout and is wired for a security system. The outside water is paid by the HOA which provides complete yard maintenance throughout the year and driveway snow removal. Always occupied by a single owner with no pets or children. Located on the sought-after West Side, whether going North or South, there is always a convenient route allowing for a short commute. The Garden of the Gods is within walking distance as are the excellent neighborhood elementary school and neighborhood park.
Source: PPMLS #4610937
Source: PPMLS #4610937
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: #4610937
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