7212 Midnight Rose Dr, Colorado Springs, CO 80923
5 beds · 3 baths · 4,239 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Nestled on a generous corner lot in the highly sought-after Indigo Ranch neighborhood, this beautifully maintained 5-bedroom home offers over 4,200 square feet of living space. A beautifully landscaped front yard, featuring a tranquil disappearing stream, greets you and sets the tone for the peaceful ambiance that flows throughout the property. With sweeping mountain views, this home truly embraces the Colorado lifestyle, both indoors and out. Inside, you'll find a spacious and versatile floor plan that flows seamlessly from room to room. The open main level is bathed in natural light, featuring expansive living and dining areas, ideal for family gatherings or entertaining guests. The well-appointed kitchen offers ample cabinetry, extensive counter space, and a newer dishwasher, blending style with practicality. Just off the main living area, the 22x14 sunroom provides a bright and airy retreat with endless possibilities. Whether as a cozy lounge, home office, or creative space, this addition is perfect for year-round use. The primary suite on the main level offers a serene escape, complete with newer carpet installed in 2022 and a refreshed en-suite bathroom with epoxy grout in the shower. The remaining bedrooms are generously sized and versatile. Downstairs, you’ll find a spacious recreation room and a built-in bar, perfect for movie nights, game days, or hosting guests. The outdoor space continues to impress with a beautifully maintained backyard featuring mature trees and ample room to unwind. Recent upgrades include a newer roof (installed less than a year ago), fresh exterior paint, new gutters, a two-year-old washing machine, and other well-maintained systems throughout. Ideally located near parks, schools, shopping, and outdoor recreation, this home offers both comfort and convenience.
Source: PPMLS #1237827
All values shown are estimated costs / mo.
Source: Public records
Source: PPMLS #1237827
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.
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.
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.
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.
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.