6290 Bearcat Loop, Colorado Springs, CO 80925
6 beds · 4 baths · 3,054 sqft
Located in The Meadows at Lorson Ranch, this beautifully maintained two story home with fully finished basement has it all. With 6 bedrooms, 4 bathrooms and a 3 car tandem garage, the home offers lots of space. The main floor contains the living room, eat in kitchen, dining room, half bath, and a formal dining that can also be used as an office, formal living room, etc. The modern, spacious kitchen contains granite countertops, lots of cabinets and a pantry. Upstairs is the master suite with adjoining 5 piece bath, walk in closet and additional closet. The master bedroom also includes a sitting area. There are three more bedrooms upstairs, two of which have their own walk in closet and another full bath. The laundry facilities are also conveniently located upstairs. Downstairs contains a large family room, two more spacious bedrooms and another full bath. The home has recently had many ugraded features to include: new luxury vinyl plank flooring on the main level; marble countertops in all secondary bathrooms; upgraded modern light fixtures throughout; inside motion detection lighting; built in loft shelving in the garage; an insulated garage door; upgraded garage door opener; kitchen stove upgraded to natural gas; brand new whole house fan with keypad or remote controls; new whole house humidifier; new screens throughout; and a brand new 196 sq foot wood shed complete with electicity sitting on a concrete pad. This home also comes with a garden shed, green house, two 220V outlets, an expanded concrete patio and driveway as well as a newer water heater and a water softener. On almost a third an acre lot, this home backs to an open space and trails. The fully fenced backyard has an access gate to the open space and is the perfect space for entertaining and relaxing while having fantastic views of Pikes Peak. All of this plus this home is within minutes to Fort Carson, Schriever SFB, Peterson SFB, shopping, dining & entertainment.
Source: PPMLS #7687499
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #7687499
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: #7687499
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