488 S Balsam St, Lakewood, CO 80226
5 beds · 3 baths · 1,916 sqft sqft
Welcome to this precious two-story townhome in located in the Lakewood Villa West neighborhood. You’re steps away from Belmar Park with peaceful trails to walk/jog and immerse in Colorado outdoors. Easily enjoy all the art and entertainment Belmar shopping district has to offer with restaurants, shopping, Belmar library, movie theater and galleries among other entertainment offered year round, festivals included. Quick access to 6th Ave, Downtown Denver and the mountains make this a prime location within the Jeffco School District. Walking in the main floor is a bright living room with a beautiful bay window, nice fireplace in living room and cozy dining area. Newly painted kitchen, a large pantry, and a powder room. Outside you will find a great, covered deck, perfect for hosting and entertaining. From there, you have access to a roomy two car garage with storage, plus additional street parking. The upstairs boasts a bright master bedroom with a large walk in closet, an attached bathroom and two additional bedrooms. The basement has been recently updated to include two additional bedrooms, a laundry room and a full bathroom. Fresh bright paint, modern accents, new door hardware, new carpet and new waterproof LVP flooring have been installed. Other improvements include a tankless water heater, a new furnace, AC and wall mounted microwave. The community has a clubhouse and a swimming pool for those hot summer months. In the winter, don’t worry about shoveling snow as it is one of the many amenities included in the HOA. Don’t miss this wonderful opportunity to call this space home!
Source: RECO #6384227
Interest rate and monthly payment estimated based on public records.
Source: RECO #6384227
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #6384227
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