7635 Shimmer Cir, Colorado Springs, CO 80922
3 beds · 3 baths · 1,910 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Immaculate Stetson Hills home offering 3 bedrooms, 3 bathrooms, and 2,800 SF. This home has designer touches throughout. The welcoming front porch draws you into the sun filled living room. The kitchen is beautifully appointed with a center island, abundant cabinet space, solid surface counters and dining nook. Unwind in the family room with a cozy gas fireplace. Enjoy summer evenings on the patio overlooking the back yard. The spacious master suite offers a sitting area, fireplace, adjoining five-piece bathroom and walk-in closet. Two spacious secondary bedrooms & full bathroom complete the upper level. The unfinished basement offers options to expand. This home is conveniently located to schools, dining, and shopping with easy access to the Powers Corridor. Recent upgrades and amenities include fresh interior paint, updated flooring and carpet, built-in storage in garage; low maintenance landscape with turf in back yard. Tour this amazing home today!
Source: PPMLS #1181552
All values shown are estimated costs / mo.
Source: Public records
Source: PPMLS #1181552
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 and Equal Opportunity Act.