1 of 48
$470,000

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.

Estimated
Seller's interest rate
4.12%
7%
Estimated
Principal & interest
$1,355/mo.
$1,747
You may also save up to $103,493 in total interest paid.
Listing price
$470,000

Your cash down payment
$234,948
Seller’s estimated current equity is $234,948
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $1,355 monthly payment

Financed
$235,051
Assumed mortgage 4.12% • Seller's rate
$235,051
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Location
Details
Home
Size
1,666 sqft
Lot size
0.0290 acres
Year built
2013
Type
Townhouse
HOA dues
$0.00

Source: PPMLS #9816894

Loan
Remaining term
22 yrs
Rate
4.12%
Monthly P&I
$1,355
Remaining loan balance
$235,051

Source: Public records

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%. 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.

Other resources
Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Last updated: Mar 11, 2025 10:21 am
Listing agent: Christina Smith MRP (719) 257-3810
Listing provided courtesy of: CK Smith & Associates (719) 257-3810
Details provided by PPMLS and may not match the public record.
MLS ID: #9816894
The real estate listing information and related content displayed on this site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,355/mo
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