421 County Rd, Louisville, CO 80027
3 beds · 2 baths · 2,177 sqft
Step into the charm of yesteryear with this beautifully updated 1910 home in the heart of Louisville. Featuring 3 beds, 2 baths & a versatile studio, this Old Town gem offers a functional layout with modern updates while preserving its historic character. Entering from the west-side entrance on Front St, a bright & spacious mudroom provides ample storage with hooks for jackets, hats & more. Adjacent to the mudroom is a tucked-away 3rd BR or a convenient main floor office. Continue down the hallway to the kitchen, which displays abundant cabinetry, ample countertop space, a gas range, & a sliding barn door that reveals a pantry & hidden spice rack. The kitchen flows seamlessly into the dining & living room, creating a bright & open space that extends onto the deck for entertaining in the backyard. South-facing windows fill the primary bedroom with sunlight & a nearby 3/4 bathroom offers a private suite-like feel with the addition of a barn door. Off the kitchen, you'll find a 2nd BR & a full bathroom. Custom-built rustic wood shelving throughout the home maximizes storage options. The basement provides even more nooks & crannies to explore, including functional desk areas, a hidden "Peter Pan" room, a cozy hangout, and plenty of additional storage. The outdoor space is equally inviting, featuring a lush backyard with a large deck, covered porch, tree swing, raised sand and planter box, mature trees, and a fenced-in yard bordered by hedges that leaf out nicely in the summertime adding privacy. The studio has been enhanced with storage, electricity, and heating, making it a comfortable space for an office, yoga studio, or craft room, among other uses. A sliding gate opens to Front St, where you'll find plenty of on-street parking. Just a short walk from Community Park, Louisville Middle and Elementary Schools, as well as Old Town's vibrant shops, restaurants, and cafes. This home offers an ideal location and a quaint, charming lifestyle in the heart of town.
Source: RECO #IR1025229
Source: RECO #IR1025229
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.
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