6590 Tranters Creek Way, Colorado Springs, CO 80925
4 beds · 3 baths · 2,188 sqft
Located in The Meadows at Lorson Ranch, this beautifully maintained two story home sits on a large corner lot. Inside you will find brand new luxury vinyl plank floors throughout the home. As you walk into the spacious foyer you will find an office/formal dining area to your left and an open staircase to your right. Journey through the foyer to the open spacious living area and large kitchen complete with an adjoining dining area and a pantry. Continue through the dining area to the outside patio and enjoy a beautiful landscaped back yard big enough for entertaining and enjoy your own fresh fruit from the fruit trees. Upstairs you will find a large open landing leading to the master bedroom complete with its own sitting area and ensuite bathroom with a soaking tub, walk in shower, walk in closet and additional closet. The upstairs also has three more large bedrooms and another full bath. You don't have to worry about carrying those dirty clothes downstairs to wash as this home has the laundry room conveniently lcoated upstairs. The unfinished basement offers TONS of room for creating your own personal space such as a family room, additional bedrooms, movie room or whatever your heart desires. The basement also has a rough in for an additional bathroom. Also enjoy the luxury of lower utility bills since this home comes with PAID OFF SOLAR PANELS.
Source: PPMLS #7043019
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #7043019
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: #7043019
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.