7834 Buckeye Tree Ln
Colorado Springs, CO 80927
4 beds · 3 baths · -- sqft
$500,000
Get prequalifiedAbout this home
Incredible 4 bedroom 3 bath in Banning Lewis Ranch. The home is beautifully landscaped with mature trees including Colorado’s quintessential Aspen tree. Walking through the front door the home opens into the living area with vaulted ceilings giving the space a feeling of grandeur. The living area flows seamlessly into the eat in kitchen which boasts a barstool height center island, ample cabinet space, stainless steel appliances, and walk out access to the back yard. The main floor also has two bedrooms including the spacious primary bedroom with ensuite full bath including a double vanity. Bedroom two is just to the right of the front entry which has its own sense of privacy and access to a private full bath. The basement level has a wonderful family room with a wet bar making it great for entertaining or movie nights with the family. Bedrooms three and four and another full bath complete the basement level. The backyard is a feature in itself with its oasis feel including partial xeriscaping for low maintenance and a luscious grass area. This home has it all and the Banning Lewis Ranch community has amenities galore, including neighborhood schools, over 75 acres of parks/trails/open space, tennis courts, basketball court, rock climbing parks, zip-lines, access to pools, splash pad, water park, and dog park. Recreation center houses a fitness center and also regularly hosts classes and events for all ages. In the summer months, catch a neighborhood concert, festival, food trucks, farmers market or enjoy other regular community events.
Source: PPMLS #5585033
5-year savings
Neighborhood
FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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