4300 W ELLSWORTH AVE, Denver, CO 80219
***ASSUMABLE LOAN w/ 2.375% interest rate*** This charming Farmhouse-Style Ranch on a quarter of an acre lot with private access to a peaceful stream, open space and walking trails is the one you have been waiting for! Welcome to 4300 West Ellsworth Ave ~ a beautiful brick ranch home, originally built in 1940 but recently updated and modernized. Situated on an expansive 11,500 sq. ft. lot, this property backs to open space and a peaceful stream, making it the perfect retreat within the city. Step off the cozy front porch into your new home and instantly feel miles away from all the hustle. The bright and airy main level offers a spacious living room and generous dining area conveniently adjacent to a beautifully renovated kitchen. Also on the main level are two oversized bedrooms and a fully updated bathroom. Step onto your freshly finished, wrap around trex deck and enjoy the privacy of your expansive yard, the peaceful sounds of the creek and the tranquil open space just beyond your property line. Also outside is a fenced in area perfect for additional gardening, kid's play area or a dog run. Head downstairs to find the spacious walk-out basement providing an additional living room, two generously sized bedrooms, a full bathroom, storage area and another private, outdoor patio. This home is currently used as a short-term rental, offering a lucrative investment opportunity at the incredible assumable interest rate of 2.375%. All furniture can be included in the sale, so you can move right in and continue the rental business seamlessly. With a 2-car detached garage and a shed included, there is plenty of storage space as well. Don’t miss this unique opportunity to own your own private sanctuary. All of this within minutes to freeways ~ offering easy access to the foothills to the West and Downtown Denver to the East.
You may be able to put down less than the total down payment amount of $265,532 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #6562056
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