718 E Cache La Poudre St, Colorado Springs, CO 80903
3 beds · 3 baths · 1,332 sqft
Turn-of-the-Century Victorian Masterpiece nestled at the edge of the historic North Old End that blends timeless charm with modern convenience. From the moment you step inside, large Victorian-style windows frame mountain views, while an open, inviting layout creates the perfect oasis for dining, relaxation, and entertainment. The master suite is a serene retreat, featuring a fully redesigned bathroom with a luxurious soaking tub, a walk-in shower, and elegant finishes. The heart of the home is the beautifully updated kitchen, complete with brand-new matching LG stainless steel appliances, a gas range for culinary enthusiasts, new cabinetry, striking Volga Blue granite countertops, and Satori matte porcelain marble floor tile. Step out from the kitchen onto a spacious wood deck, ideal for entertaining or unwinding amidst a tranquil backdrop. The main floor also includes a versatile utility room with a half bath and a new stackable full size Samsung washer and dryer for added convenience. Throughout the home, elegant Boca Raton Acacia wood flooring preserves its historic character while adding a warm, sophisticated touch. Upstairs, two additional bedrooms share a new added bathroom, and each bedroom is equipped with its own mini-split heating and air-conditioning unit for year-round comfort. The property features a mini split by Cooper & Hunter, providing both air conditioning and heating. This home is boasting a new roof, a 50-gallon water heater, upgraded plumbing, a new electrical panel and stylish lighting throughout. The backyard awaits your vision, offering ample space for parking (including RV parking), ADU or the addition of a future garage. Located near Colorado College, vibrant downtown Colorado Springs, and just steps away from the Shooks Run Trail this home offers unparalleled convenience and charm. Don’t miss your chance to own this Victorian gem that seamlessly blends classic beauty with modern upgrades!
Source: RECO #2575980
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: RECO #2575980
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “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.
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 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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