5751 Canyon Reserve Hts, Colorado Springs, CO 80919
4 beds · 3 baths · 1,666 sqft
You'll love this customized 4 bedroom, 3 bath, 2 car garage, low maintenance, upscale townhome in the highly coveted, gated community of Canyon Reserve at Mountain Shadows. Surrounded by 600 acres of open space, parks, trails and STUNNING VIEWS just outside your front door, this northwest property is sure to appeal to the outdoor enthusiast. Imagine living within walking or biking distance to Ute Valley Park, Garden of the Gods and Blodgett Open Space! This fully updated townhome includes a main level bedroom and full bath, exquisite & easy care luxury vinyl plank flooring in main living area, stainless steel appliances with a gas oven/range & granite counters in kitchen. A true Colorado lifestyle home, the main level living space boasts a gorgeous accent wall and gas fireplace with an impressive custom wood mantel. You will love walking out of the great room to your new "Happy Place" -- an additional 560 sq ft of outdoor living space complete with a pergola, bistro lights, and astro turf with a privacy fence. The easy indoor - outdoor flow expands your private living space for relaxation and entertaining. The upper level features a large primary suite with a huge walk in closet, double vanity bath with an oversized walk in shower with bench, seamless glass door, and private water closet. You'll love the stained wood barn door to bath that affords privacy with style! The second upper level bedroom enjoys a walk in closet & adjoining bath that also opens to the landing area. A 3rd upper level bedroom has stunning views & a walk in closet. The upper level laundry is both super convenient & quite stylish with its wood stained "swinging doors." Home boasts character, loads of storage with ample closets & added overhead garage storage racks. The barrier free entry from garage on the main level is a nice touch as well. Property has been very well cared for and upgraded with room darkening shades, custom lighting, accent walls and doors, crown molding & fresh paint.
Source: PPMLS #9816894
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: PPMLS #9816894
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 620, 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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