27891 E 7th Ave, Aurora, CO 80018
3 beds · 3 baths · 2,066 sqft
Two options to purchase this property with significant savings. OPTION 1: ASSUME THE LOAN ON THIS HOME. 3.75% INTEREST RATE. ASSUMABLE AMOUNT APPOXIMATELY $397,000 Mortgage Payment $3077.00. FROM CONTRACT TO CLOSE IN 45-60 DAYS. Obtaining a second mortgage for assumable delta is an option. OPTION 2: This home is eligible for a 1.75% CRA Incentive that is more than $8000 toward closing cost or interest rate buy down. Welcome to this exquisite property located in the prestigious Sky Ranch community of Aurora, CO. This single-family home is a true gem, offering 3 bedrooms, 2 full bathrooms, and 1 half bathroom. With a generous 2066 sqft of living space, this property provides ample room for relaxation and entertainment. The floor plan of this home is thoughtfully designed to maximize both functionality and style. The main living areas feature high-quality carpet, hardwood, and tile flooring, creating an elegant and sophisticated atmosphere. The kitchen is a chef's dream, with stainless steel appliances, quartz countertops, and a spacious island that is perfect for meal preparation and casual dining. The bedrooms in this home are spacious and well-appointed, providing a peaceful retreat at the end of the day. The primary bedroom features a luxurious ensuite bathroom with a double sink vanity, a tiled shower, and a walk-in closet. Outside, you will find a charming patio area where you can relax and enjoy the Colorado weather. The Sky Ranch offers a range of amenities for residents to enjoy. From beautifully landscaped common areas to walking trails and parks, there is something for everyone. You have the best of both worlds, community growth in the infancy phase provides ground floor pricing, with great potential for home equity building. But the community is still located near shopping, dining, and entertainment options, with an approximate 10 minute drive, making it the perfect place to call home. Buyer to assume Solar lease currently in place.
Source: RECO #4123708
Interest rate and monthly payment estimated based on public records.
Source: RECO #4123708
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: #4123708
This publication is designed to provide information with regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought.
The information contained in this publication is subject to change without notice. METROLIST, INC., DBA RECOLORADO MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. METROLIST, INC., DBA RECOLORADO SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.
PUBLISHER'S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.
METROLIST, INC., DBA RECOLORADO will not knowingly accept any advertising for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.