7514 Blue Water Dr, Castle Rock, CO 80108
6 beds · 4 baths · 3,271 sqft
Potential 2.875% assumable mortgage***Tucked away in the highly sought-after Villages at Castle Rock neighborhood, just minutes from scenic trails, parks, top-notch shopping, fantastic dining, breweries, and all the best that Colorado has to offer, your perfect retreat awaits. This home boasts a true sense of pride in ownership, showcasing a wide range of updates and features. Step into the foyer and choose between a formal dining or sitting room. Continue into the stunning gourmet kitchen, which seamlessly opens to the living room. After a long day, unwind by the cozy fireplace or host gatherings in your fully fenced backyard, complete with well maintained patio. Fruit trees that include apple, peach, plum and cherry. Concord grapes and blackberry bushes as well! The backyard features a pond that creates calming, soothing sounds. Thanks to smart home technology, you can control your home’s comfort from anywhere with just the touch of a button. WELCOME HOME! *** Updates include: 2021 - new concrete patio, new microwave, new faucets in master bath. 2018-2019 - new carpet on both the main and second floors with upgraded pet-resistant padding, new luxury vinyl tile in upstairs bedroom, new dishwasher. Additional features: 16-switch internal security system, Xfinity security system, hot water heater booster, Nest thermostat, in-wall power extensions, MyQue Smart Hub for garage doors, and Xfinity Doorbell.
Source: RECO #8278090
Financials
Source: RECO #8278090
Source: Public records
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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