7404 Paleo Way, Colorado Springs, CO 80908
3 beds · 3 baths · 2,672 sqft
Are you yearning for serene wide-open spaces, luxurious amenities, and a perfect setting for entertaining, all while soaking in breathtaking views? Welcome to your private utopia, where you can enjoy the best of Colorado Springs' stunning sunrises and sunsets from any of your three decks. Nestled in a peaceful cul-de-sac bordering expansive open space and a tranquil community lake, this magnificent 5-acre estate offers unmatched serenity and privacy. The open-concept great room, adorned with solid wood floors and vaulted ceilings, provides a welcoming atmosphere for relaxation or lively gatherings. The upgraded kitchen, featuring a two-tiered breakfast bar and gleaming granite countertops, is a chef's delight, making meal preparation a pleasure. Retreat to the luxurious primary suite, complete with a private balcony, an elegant 5-piece bath, and a spacious walk-in closet with custom built-ins. Downstairs, the expansive family room invites you to continue the evening with its cozy fireplace and built-in wet bar, offering endless possibilities for entertainment and relaxation. Two additional bedrooms, each with walk-in closets, provide ample space and privacy for family or guests. The home's functionality is enhanced by a well-appointed laundry/mudroom with abundant storage, an oversized 3-car garage with a workshop area, 8-foot doors, and 220v hookups for all your projects. For equestrian enthusiasts, a 3-stall steel barn with power, water, and a tack room awaits your horses. Complete with automatic sprinklers and a garden drip system, your property backs up to community open spaces with extensive trails and a picturesque lake, perfect for leisurely strolls. All of this is just 15 minutes from the vibrant dining and entertainment scene of Colorado Springs. Don't miss your chance to own this exceptional property that seamlessly blends rural charm with modern convenience. Come and experience the lifestyle you've always wanted!
Source: PPMLS #1994219
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #1994219
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: #1994219
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.