7074 Mustang Rim Dr, Colorado Springs, CO 80923
2 beds · 2 baths · 2,748 sqft
Conveniently located between Marksheffel Rd and Powers Blvd this Classic Homes ranch floorplan offers quick access to multiple restaurants, shops, amenities, and a flourishing space of new commercial development. Indigo Ranch provides an easy commute for those traveling to the Colorado Springs Airport, military bases, or needing to hop on i83. This popular Providence II floorplan greets you with high vaulted ceilings and LVP flooring throughout the main level. Your gourmet kitchen offers granite countertops, oversized cabinets, stainless steel appliances, and a large pantry. A convenient dining and living room combo separate the kitchen peninsula and are both perfect for at home gatherings. Your open living room offers not just a dining room combo, but a warm gas fireplace with a walkout to a covered patio with composite decking and southwest facing views and sweeping views of the Rocky Mountains and Pikes Peak. Down the hall you'll find your primary bedroom suite with large walk-in closet and adjoined 5-piece bathroom. Your second bedroom, full bathroom and laundry room are also located down the hall. Downstairs is your large unfinished walkout basement awaiting your personal touch. Your future plans include rough-in plumbing for an additional third full bathroom. The backyard has been meticulously considered and is perfect for hosting and entertaining. Your rear composite deck comes with shades for those extra sunny days, stairs for access to lower level, low maintenance turf has been installed along with a pergola, a custom brick-laid patio and portable gas fire pit. Front yard has active sprinkler system, and backyard has irrigation plumbed around existing turf should new buyer choose to install real grass - irrigation is already in place, but capped! Be sure to check it out today!
Source: RECO #7003878
Source: RECO #7003878
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%. 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.
Other resourcesWhat 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.
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