2770 Rossmere St, Colorado Springs, CO 80919
5 beds · 4 baths · 3,934 sqft
This home comes fully equipped for comfort, entertainment, and fitness—start enjoying the lifestyle it offers! Nestled in the beautiful Mountain Shadows neighborhood, this 5 bedroom, 4 bath, 3 car garage home sits on a privately treed ½-acre lot with panoramic mountain and city views. What’s included? A movie theater with screen and projector, pool table, a 3-person infrared stereo sauna with Himalayan salt blocks. Fitness enthusiasts will appreciate the gym equipment including a rower, treadmill, and machines for leg, shoulder, and tricep workouts. Outdoors there's a 6-person hot tub, deck with furniture, 3 outdoor TVs, and garage TV. 2 indoor flat-screen TVs also included. Security is covered with 4 outdoor Ring cameras and doorbell system. Additionally, the home comes with a washer, dryer, and humidifier. Main Level Highlights: • Formal Living & Dining Rooms with vaulted ceilings. • Kitchen: Farmhouse sink, pull-out cabinets, chiseled granite counters, double ovens, pantry, and gourmet gas cooktop with a retractable vent. • Great Room: Adjoins the kitchen and features a cozy gas fireplace and built-ins. • Main Level Office: French doors add elegance. • Laundry Room: Includes washer, dryer and sink. Upper Level Retreat: • Expansive Primary Suite: Large bedroom with incredible city views, complemented by a luxurious 5-piece en-suite bathroom and walk-in closet. • Additional Bedrooms: Two generously sized rooms share a convenient jack and jill bath. Finished Walkout Basement: • Recreation Room: Pool table and bar area, new pellet stove. • Home Theater/Media Room: Projector and screen, fridge. • Two Bedrooms and Full bath: Large bedrooms, one is used as a gym now. Outdoor Living: • Main Deck: This private space already has your table, chairs and TV, surrounded by towering pines. Secluded hot tub around the corner. • Lower Area: Walk-out to granite countertops, another TV and entertaining area. Click on Purple Virtual 3D Tour under main picture!
Source: PPMLS #8310591
Source: PPMLS #8310591
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.