434 BLUE MOUNTAIN DR, Florissant, CO 80816
Escape To Your Colorado Mountain Retreat You are invited to purchase this Colorado Mountain Retreat for a Perfect Get Away, STR (Short Term Rental) or Full-Time Residence. Come escape in the mountains! This beautiful 2 acre property is an ideal retreat for those seeking the peaceful mountain lifestyle. This home features an open floor plan that seamlessly connects the living room, dining room and kitchen areas with the 3 large and spacious bedrooms and 2 full bathrooms totaling 1,440 sq ft. The living space has a cozy wood burning stove, perfect for curling up on chilly nights. Natural light streams through large windows, highlighting the warm tones of the floors and walls creating an inviting ambiance throughout. Plus, there’s plenty of room for your furry friends with a fenced in back yard and a perfect spot for chickens and No HOA. Come and see what mountain living is all about! Lifestyle in the Central Colorado Mountains Central Colorado Mountains include several communities west of Colorado Springs including Woodland Park, Divide, Florissant, Cripple Creek, Victor, Lake George and Hartsel. Florissant is surrounded by thousands of acres of the Pike National Forest to explore and enjoy. Residents have endless options for outdoor activities such as: boating on Eleven Mile and Spinney Reservoirs, fishing in the Gold Medal Waters of the Dream Stream, biking & hiking in Mueller State Park, exploring the Florissant Fossil Beds National Monument and the mining towns of Cripple Creek, and Victor. In addition, we are only a short 60 minute drive to World Class skiing in Breckenridge. The property is approximately a 60-minute drive from downtown Colorado Springs, offering access to more amazing sites - including the US Air Force Academy, Garden of the Gods, plus easy air transportation from the Colorado Springs Airport. This mountain property can offer an amazing lifestyle while maintaining easy access to both small and large communities
You may be able to put down less than the total down payment amount of $75,685 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: #7678179
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