6725 Monterey Pine Loop, Colorado Springs, CO 80927
6 beds · 4 baths · 3,156 sqft
This fabulous 6-bedroom, 4-bath home in the sought-after Banning Lewis Ranch neighborhood offers a unique open floor plan complete with 2 laundry rooms and 2 kitchens! Designed to meet the needs of a large or multi-generational family this unique home features a spacious main level living room complete with a gas fireplace, recessed lighting, and a view of the backyard, seamlessly flowing into the dining room and kitchen areas. The kitchen boasts white cabinets with granite countertops, a large pantry, and premium appliances including stainless steel double ovens, a gas cooktop, and a French door refrigerator. French doors off the entry open to a versatile main-level bedroom, currently used as an office. The upper level is home to four bedrooms, including a luxurious primary suite with a tray ceiling, sitting area, walk-in closet, and a 5-piece en-suite bath featuring dual sinks, a soaking tub, a separate shower and a large walk-in closet as well as laundry room, built-in shelving and a full hall bathroom complete the upper level. The garden-level basement is a standout feature, offering a second kitchen with a gas range, dishwasher, and built-in microwave—perfect for extended family, guests, or hosting large gatherings. The basement also includes a spacious family room, a sixth bedroom, a shower bathroom, and a second laundry room with cabinets, washer, and dryer. The fenced backyard is a private retreat with turf, trees, shrubs, a deck, a covered patio, and an automatic sprinkler system. Residents of Banning Lewis Ranch enjoy access to award-winning schools and numerous amenities, including a pool, splash pads, pickleball courts, dog parks, fitness center, and the Ranch House with meeting and event spaces. Conveniently located near military bases, shopping, and hospitals, this home is ideal for families looking for space, comfort, and community. Schedule a showing today—this home is ready to welcome your family!
Source: PPMLS #8720405
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #8720405
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: #8720405
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