7109 Compass Bend Dr, Colorado Springs, CO 80927
7 beds · 5 baths · 6,203 sqft
This expansive residence -one of the largest in the neighborhood- redefines luxury living with a harmonious blend of contemporary design and timeless elegance. Its commanding presence begins with a striking facade featuring stone accents, classic front porch, and 3-car garage. Inside, meticulously designed spaces invite exploration of an airy elevated interior where form meets function. Wood flooring, clerestory windows, and recessed lighting enhance the clean architectural lines, while a California window wall bathes the great room in natural light. An elegant fireplace anchors the space, while multi-sliding glass doors extend the living area outdoors, creating ideal flow for entertaining. The gourmet kitchen is stylish and practical, with crown moulding capped white cabinetry, polished quartz counters, and a central island with bar seating. State-of-the-art appliances enhance, while the dining room offers a refined setting. The thoughtful floor plan includes multiple living spaces, providing both openness and privacy. Designed for multi-generational living, the main level features a private en suite bedroom, while the upper level hosts a serene primary retreat. This luxurious suite offers chic dual vanities, makeup station, garden tub, luxury shower, and an expansive walk-in closet. Additional living spaces, including a versatile loft + customizable bonus rooms, offer endless possibilities for personalization. Outside, a covered patio provides a peaceful setting to unwind, whether enjoying morning coffee or an evening under the stars. The home’s corner-lot positioning enhances privacy and space, creating an inviting backdrop for outdoor living. Set within a vibrant community, residents enjoy access to an array of amenities, including top-rated schools, a bustling community center, multiple pools, pickleball courts, dog parks, and playgrounds. This residence is more than just a home-it offers an elevated lifestyle in an area designed for connection and growth.
Source: PPMLS #9873756
Financials
Source: Public records
Source: PPMLS #9873756
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.