2835 N Chelton Rd, Colorado Springs, CO 80909
4 beds · 3 baths · 2,309 sqft
Welcome to this meticulously maintained mid-century home, ideally situated on 0.69 acres below Palmer Park—an urban oasis boasting miles of trails for hiking, biking, and horseback riding. Upon entering, natural light floods the open layout, seamlessly connecting the kitchen and dining areas to a spacious living room adorned with vaulted wood-paneled ceilings, skylights, and expansive windows framing park views. A cozy sitting area features a unique corner gas fireplace and overlooks Pikes Peak, while the kitchen extends onto a deck equipped with a natural gas BBQ connection. The primary suite, located for privacy, includes an adjoining flex space perfect for an office, complemented by two additional bedrooms and a bath on the opposite wing. Downstairs, a large family room, non-conforming bedroom, and abundant storage open to the outdoors. The laundry room, complete with built-in pantry and utility basin, leads directly to the attached 2-car garage. A highlight is the bonus family room with vaulted ceilings providing ample space for exercise equipment, adjacent to a shed ideal for a workshop. Outside, a circular driveway ensures convenient access with ample off-street parking. Enjoy proximity to Colorado Springs Country Club offering amenities like golf, fitness, tennis, and dining, as well as nearby schools including Colorado Springs Charter Academy and Audubon Elementary. Shopping and services are easily accessible via I25. This property offers the perfect blend of serene living amidst natural beauty, coupled with modern amenities and convenient urban access—a true haven in Colorado Springs. Additionally, enjoy the benefits of new Renewal by Andersen windows, solar panels, and a Tesla Powerwall, ensuring energy efficiency and sustainability.
Source: PPMLS #3785644
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #3785644
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: #3785644
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.