3014 Looking Glass Way, Colorado Springs, CO 80908
4 beds · 4 baths · 3,097 sqft
Experience luxury and comfort in this stunning two-story home with a captivating stucco and stone exterior. From the moment you step inside, you’ll be wowed by the open layout with a glass door to the deck, perfect for extending your entertainment outdoors. The home features a private main-level office, an invaluable space for productive work-from-home days. The updated kitchen is a chef's delight, featuring generous counterspace for food prep and serving meals, an expanded dining area and modern stainless steel appliances, including a range, microwave, new dishwasher and refrigerator. Upstairs you will find three spacious bedrooms, two full bathrooms and a versatile bonus room off the primary bedroom giving endless possibilities including a home gym, nursery or another office to work from home. The primary bedroom retreat showcases a spa-like bath with a double vanity, spa-like shower, and indulgent soaking tub. The basement adds even more versatility and valuable space for entertaining and hosting family and friends with a fourth bedroom, full bathroom, a stylish wet bar, and a dining counter ready for your next gathering. this home boasts elegant plantation shutters, a freshly stained exotic Cumaru hardwood deck, and a new fan in the radon mitigation system. The primary and secondary bathrooms have been beautifully remodeled and the home also features a new high-efficiency furnace, water heater, and air conditioner. Additional highlights include a high impact-resistant roof for peace of mind, and fresh exterior paint that gives the home a crisp, modern look. To top it off, the washer, and dryer are all included in the sale. Nestled within the prestigious Academy District 20 school district, this home offers access to outstanding education. With a low HOA, unbeatable proximity to the Powers corridor, I-25, and a host of fabulous shopping and dining options, this gem is the definition of a FABULOUS FIND!
Source: PPMLS #7961219
Source: PPMLS #7961219
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.
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 “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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.