502 Spruce Lake Dr, Divide, CO 80814
3 beds · 3 baths · 2,112 sqft
Welcome to a lovely escape from the city with all the comfort, scenery, and wildlife Colorado can offer! This versatile ranch home is nestled in a treed 1.43 acre cul-de-sac with the perfect amount of trees and light from open space! The main level offers hardwood flooring throughout living room, dining area and hallway. The eat-in kitchen boasts beautiful granite countertops with peninsula and stainless steel gas range oven, plenty of cabinets and a private, scenic view from the kitchen window. The Primary suite has been converted to allow added space and offers a large closet and attached 3/4 bathroom. The second bedroom on the main is bright and conveniently located across from laundry room and full bathroom with skylight. Head down to the cozy walkout basement with wood burning stove and generous sized family room, full bathroom and two additional bedrooms. One bedroom is large and traditional with a window, and the other has been utilized as an office or non-conforming bedroom. The oversized garage includes a workbench, metal shelving and snowblower. The HOA is voluntary and provides private trout stacked lakes a playground basketball and volleyball courts as well as a picnic area with pavilion. This is a great city get-away for everyone! Come see this gorgeous Mountain retreat today!
Source: PPMLS #4123694
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #4123694
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: #4123694
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.