6562 Mancala Way, Colorado Springs, CO 80924
5 beds · 3 baths · 3,874 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Nestled on a peaceful cul-de-sac just steps away from Legacy Peak elementary school, Challenger Learning Center, the community pool, parks, walking paths, and Wolf Lake, this gorgeous home in the highly sought-after Wolf Ranch community offers the perfect blend of comfort and convenience. From the moment you arrive, you’ll be captivated by the stunning mountain views from the charming front patio—a serene spot to enjoy your morning coffee while soaking in the beauty of Colorado. Inside gleaming wood floors and an open-concept design set the stage for a warm, inviting atmosphere. The spacious kitchen is truly the heart of the home, featuring a gourmet kitchen with a large island perfect for meal prep, casual dining, or gathering with friends. A generously sized walk-in pantry provides ample storage to keep everything neatly organized. The dining and living areas flow seamlessly together, making entertaining effortless. Step outside to the covered patio and beautifully landscaped fenced yard—ideal for relaxing in the sun or enjoying a cozy fire pit on cooler evenings. The main-level primary suite offers a peaceful retreat, complete with a luxurious en-suite bath featuring a dual vanity and walk-in shower. The oversized walk-in closet conveniently connects to the laundry room, making daily chores a breeze. Upstairs, two additional bedrooms, including one with sweeping mountain views, share a full bath. Need more space? The finished basement is an entertainer’s dream, offering a spacious second living area or rec room with a built-in wet bar, perfect for hosting guests or enjoying a quiet night in. Whether you envision a home gym, game room, theater space, or additional living quarters, the possibilities are endless. Two oversized bedrooms and a full bath complete the lower level, making it an ideal space for family members or guests. This home is full of charm, comfort, and thoughtful details throughout. Don’t miss your chance to make this dream home yours!
Source: RECO #5800636
All values shown are estimated costs / mo.
Source: Public records
Source: RECO #5800636
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.
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.
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.
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.
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.
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.
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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