7809 Bandit Dr, Castle Rock, CO 80108
3 beds · 2 baths · 1,425 sqft
Back on the market due to an unfortunate buyer situation. This stunning ranch-style residence is located in the highly sought-after Cobblestone Ranch community. Featuring 3 bedrooms and 2 baths, this home is packed with upgrades and boasts an open, light-filled layout and south facing exposure for super quick snow melt! The beautiful kitchen offers ample toffee maple cabinets, stainless steel appliances, an induction stove and granite countertops. Perfect for entertaining or enjoying your morning coffee, the spacious deck is a standout feature. The home also includes extensive hardwood floors and a cozy fireplace in the great room. On the main level, you'll find all three bedrooms, two full baths and a laundry room complete with a washer and dryer. The attached 2-car garage includes a doggy door and plenty of storage space. The home also features a newer roof (installed in April 2019) and 9 ft. ceilings throughout. The large, open, unfinished basement offers endless possibilities for additional bedrooms, a bathroom, or a game room. The fully fenced yard provides privacy and security and is great for your pets. Sellers will pay off the solar panels at closing so you will have low electric bills! Located close to the Cobblestone Ranch's Community Center and 12 acre park, you'll have access to a pool, lighted tennis and pickleball courts, and a play area. The Cherry Creek Trail is also nearby, perfect for morning runs or walking the dog, or hop on your bike and take it all the way to Downtown Denver. Just a few miles from the beautiful Castlewood Canyon State Park! Enjoy the balance of community living with plenty of open space to explore. Come see this fantastic family home today—you won't be disappointed! Ask listing agent about the 2.5% VA ASSUMABLE LOAN! (Bedroom 1 and Breakfast Nook have been virtually staged).
Source: RECO #4431465
Financials
Source: Public records
Source: RECO #4431465
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.
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.
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