434 7th St, Mead, CO 80542
4 beds · 2 baths · 1,837 sqft
Curb appeal is just the start of this beautiful love story. Wait until you see 434 7th Street, a beautifully upgraded split-level home in Mead. Located in Mead Town Square, there is NO HOA and NO METRO TAX! Situated on a corner lot, this house is across from open space and backs to an alley. Bring your RV, boat, or toys! Inside, this home has been thoughtfully upgraded throughout. The main floor features a spacious living room, garage access, kitchen, and eat-in dining area, with large windows throughout to brighten the space. The kitchen boasts a farmhouse sink, butcher block counters, new cabinets, backsplash, shelving, and appliances. The kitchen table is included, perfectly complementing the space! Head upstairs to find three bedrooms and your shared primary bathroom. The primary bedroom can easily fit a king-size bed and has a huge window that brings in the perfect summer breeze. The recently upgraded primary bath includes new tile, vanity, flooring, toilet, mirror with medicine cabinet, shelving, trim, and fresh paint. Two additional bedrooms with large closets and a linen closet complete the upper level. Head down to your lower level, a garden-level walkout basement. The large rec room is big enough for many uses, including family room and office. You will also find your fourth bedroom! Walking out your sliding glass doors to your concrete patio, enjoy your .22 acre lot. Grass, rock, mature landscaping, developed trees that provide TONS of shade. This space has so many options, you can even bring your chickens! The home is getting a fresh coat of exterior paint the week of April 7th. With its upgrades, space, no HOA, and no metro tax, this home is a fantastic deal. Come take a look!
Source: RECO #IR1029913
Source: RECO #IR1029913
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.
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