VA loan
1 of 40
VA loan
$500,000

6515 INDEPENDENCE ST, Frederick, CO 80516

2 beds · 2 baths · 1,419 sqft

Well-maintained ranch home that ticks all the boxes! The open floor plan with 9-foot ceilings creates a spacious environment, ideal for hosting gatherings. The kitchen is thoughtfully designed with granite countertops, a large center island with bar seating, stainless steel appliances, 42-inch cabinets, and a convenient pantry. The kitchen effortlessly connects to the living room, where a custom tile fireplace adds a modern touch. Adjacent to the kitchen is a versatile second living area that can easily serve as a sitting room, office, or formal dining space, offering flexibility for your lifestyle. The primary bedroom suite, situated at the back of the home for added privacy, is a peaceful retreat with an ensuite bathroom that includes dual sinks, a walk-in shower, and built-in shelving for extra storage. A second bedroom and full bath are located near the front of the house, providing a comfortable space for guests or additional uses. Double sliding glass doors lead out to a covered patio, making it easy to enjoy the outdoors or entertain in the xeriscape backyard, which is fully fenced, low-maintenance, and water-efficient. Located in the Wyndham Hill community, this home offers a range of amenities including a clubhouse, pool, walking trails, green spaces, and play areas for outdoor enjoyment.

Interest rate 3
3.57%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$1,434
With Roam
$1,923
Reduce your monthly payments by $488 when you assume this mortgage.
You also save $147,575 in total interest paid.

$214,417
Edit

You may be able to put down less than the total down payment amount of $214,417 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.

VA loan
Eligible for investors
Not a veteran? You may still be qualified to assume the mortgage.

Location

Details

Home
Size
1,419 sqft
Lot size
0.13 acres
Year built
2017
Type
Single Family Residence
Loan
Remaining term
25 years, 2 months
Rate
3.57%
Monthly P&I
$1,434
Remaining loan balance
$285,582

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.

View all FAQs
Last updated: Sep 19, 2024 12:04 pm
Listing agent: Rob Kittle (970) 690-4920
Listing provided courtesy of: Kittle Real Estate (970) 460-4444
Details provided by RECO and may not match the public record.
MLS ID: #ir1018745
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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 45 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.
$1,434/mo
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