7645 Potomac Dr, Colorado Springs, CO 80920
4 beds · 4 baths · 2,654 sqft
Charming 4-Level Home in Briargate on a Corner Lot in school district 20! Walking distance to amazing parks and trails plus some of the best schools in the area! Open space and Cottonwood Creek Trail are directly across the street plus easy access to shops, entertainment and some of the most desirable areas of Colorado Springs. Welcome to this beautifully designed four-level home, ideally located between Woodmen and Research in the heart of Briargate. Situated on a generous corner lot, over a quarter acre, this home offers both charm and functionality. Step inside to a bright living room with vaulted ceilings that give an open, airy feel. The kitchen features stainless steel appliances and an eat-in dining area that flows seamlessly into the lower-level family room. Cozy up by the wood-burning fireplace or enjoy the convenience of the updated half bath, laundry area, and attached insulated garage. Sliding doors provide easy access to the large backyard, mostly xeriscaped for low maintenance. The 28x17 covered patio is perfect for entertaining or relaxing outdoors. Upstairs, the primary suite offers vaulted ceilings, electric blinds, a walk-in closet, and an ensuite bath with double sinks and a walk-in shower. Two additional bedrooms with vaulted ceilings and an updated full bath with a skylight complete the upper level. The finished basement includes a second family/rec room, a fourth bedroom, and an updated 3/4 bath, making it an ideal space for guests or additional living space. Notable updates include: NO HOA, a 2023 water heater, a 2024 roof, updated bathrooms, newer paint, and carpet. Exterior features include drip lines with an auto sprinkler system, spacious storage shed on a concrete slab. With nearby bike and hiking trails and walking distance to all three neighborhood schools, this home is perfectly situated for convenience. It’s ready for you to move in and enjoy!
Source: RECO #7036797
Interest rate and monthly payment estimated based on public records.
Source: RECO #7036797
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: #7036797
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