7637 Cat Tail Creek Dr, Colorado Springs, CO 80923
5 beds · 3 baths · 3,075 sqft sqft
Versatile ranch plan with 2 kitchens, on a huge lot, and backing to open space!! Tucked away in a cul de sac, yet with easy access to both Woodmen or Dublin for commutes in any direction! Close to military bases, shopping, and nearby schools. Full stucco exterior, plus solar panel system in place. Engineered wood floor welcomes you and goes throughout the main level living, kitchen, dining, study and hallway. The study has French doors, and a closet if you need an additional main level bedroom. The vaulted great room includes a ceiling fan, fireplace, and is great space for entertaining. In the kitchen everyone will appreciate granite counters, upgraded appliances, corner pantry, and a walk-out from the dining space. Privately tucked away is the master suite with bonus walk-out door to covered rear patio, a 5-pc bath, and walk-in closet. The main level is rounded out by a 2nd bedroom, full bath, and laundry room with garage access. The basement level is a stunner!!!... full kitchen, additional pantry, huge family room, and almost all LVP flooring. For the 3 bedrooms to share, it's convenient to have the bathroom vanity space separated by a door from the tub/shower, commode area. You'll also appreciate the mechanical space for storage. The yard is tremendous, with ample gardening space, the 14x11 covered patio plus a 15x11 pergola patio, 12x10 shed/small workshop... plenty of space for hobbies or relaxation. The main level boasts up & down blinds for adjusting lighting and privacy. You will want to see this one in person to appreciate all it has to offer!
Source: PPMLS #5538381
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #5538381
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: #5538381
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.