533 PINE SLOPE RD, Idaho Springs, CO 80452
Enjoy secluded mountain living while being steps away from all downtown Idaho Springs has to offer! This large, gated mountain home is perfectly positioned at the top of a long private drive above Idaho Springs’s Bridal Veil Falls, overlooking Clear Creek. The property is an outdoor enthusiast’s playground offering hiking out your front door, hot springs within walking distance, 2 large decks with priceless views, and a hot tub to soak it all in. Inside you will be greeted by a great room with 20+ foot high ceilings, extremely large windows with new window treatments, new carpet and fresh paint throughout. The grandiose feel continues across the main level up to the massive primary suite, equipped with a 5-piece bath, large walk-in closet, loft perfect for a home office, and your own private deck looking up Echo Mountain. The vaulted ceilings in the great room and primary provide a true wow factor. The main level has an open floor plan with 2 separate living rooms, each with its own wrought iron wood burning fireplace. There are 2 bedrooms off the back living room that share a large full bathroom. The 4th bedroom has its own en suite bathroom and huge walk-in closet. The dining room is large enough for a 10-person dining room table. The kitchen is centrally located on the main level with access to the beautiful new sandstone patio and large, flat backyard. The outdoor oasis is so close to main street you can hear the live music from your patio all summer long. Prime location overlooking historical Idaho Springs: 40 minutes to downtown Denver, 20 minutes to Red Rocks, 50 minutes to Boulder, 15 minutes to Black Hawk, 5 minutes to the local grocery store and 2 minutes to Indian Hot Springs. The mountain views from every room, impressive room sizes and incredible location make this home an unparalleled mountain living experience.
You may be able to put down less than the total down payment amount of $421,337 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: #8934614
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