2732 Northcrest Dr, Colorado Springs, CO 80918
4 beds · 3 baths · 2,615 sqft
Situated in a highly sought-after Premium Garden Ranch location on a spacious 1/3-acre lot, this home is brimming with potential for handy homeowners and investors alike. With some TLC, this property can be transformed into a dream home, offering fantastic value in a coveted neighborhood. This main-level ranch-style home, with a basement, offers an open and airy layout. The kitchen boasts Silestone countertops, a breakfast bar, and an open flow to both the great room and the formal dining area, making it perfect for entertaining. Step out into the large sunroom, which connects to the covered wrap-around deck, and enjoy views of the private, wooded backyard. The outdoor living space is unmatched, with a massive front patio—partially covered for year-round enjoyment—and a covered deck in the backyard, perfect for gatherings or simply relaxing. The basement offers additional living space with a built-in bar and fireplace, and direct access to the backyard for a seamless indoor-outdoor lifestyle. In-ceiling speakers are installed in the master bedroom, kitchen, and living room, making the home ready for modern living and entertainment. Convenience is key with main-level laundry, a tile roof, and a finished heated garage. A large attached storage area under the deck and a shed in the yard offer plenty of room for storing outdoor equipment, tools, or other items. As an added piece of history, neighbors say this home was once featured in LIFE Magazine and was a Parade of Homes showcase property, giving it unique charm and character. Buyers are encouraged to verify square footage, as previous MLS records mention that the assessor site may not include the front living room. This home is a diamond in the rough, offering incredible potential with its large lot, premium location, and outdoor spaces. Don't miss your chance to turn this property into your own masterpiece—schedule a showing today and imagine the possibilities!
Source: RECO #8483185
Interest rate and monthly payment estimated based on public records.
Source: RECO #8483185
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: #8483185
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