7524 Bandana Way, Colorado Springs, CO 80923
3 beds · 2 baths · 1,448 sqft sqft
This 2020 Classic Homes build still feels brand new and has been kept in pristine condition. The inviting covered front porch leads you into a bright and open great room with luxury vinyl plank flooring. This versatile space is perfect for both lounging and dining, bathed in natural light from the many windows. The kitchen is a chef’s delight, featuring designer cabinets, quartz countertops, stainless steel appliances, a gas cooktop. A handy pantry sits nearby for extra storage. Just outside, the cozy back patio offers the perfect spot to unwind, backing to serene open green space, Xeriscaped for easy maintenance, and equipped with a gas line for your grill. French doors off the main living area open into a spacious flex room that is currently being used as an office, which can easily be converted into a third bedroom if needed (currently non conforming). The primary suite, located down the hall for added privacy, includes an en suite bathroom with stunning tile work and a walk-in closet. A second bedroom and additional full bathroom are also conveniently located off the main living area. This home offers high ceilings, a soothing color palette, and is situated in the vibrant Indigo Ranch neighborhood, close to shopping, schools, restaurants, and more—all without the hassle of yardwork! It also comes equipped with a full suite of Smart Home features including Leviton Smart Outlet, Schlage Lock Mini, Schlage Lock Controller, Nest thermostat, Schlage Smart-lock, and Ring Doorbell. Don’t miss the chance to make this your new home
Source: PPMLS #2252282
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #2252282
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: #2252282
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.