7865 Fedora Ln, Colorado Springs, CO 80923
3 beds · 3 baths · 1,708 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to your new home! This delightful 3-bedroom, 2.5-bath gem is nestled in a peaceful, highly sought-after HOA community. One of the largest floorplans here! With a spacious, open layout, this AS IS property offers plenty of room to grow and personalize. Upstairs, you'll find all three cozy bedrooms, along with a versatile loft area that can be transformed into a home office, playroom, or your own peaceful retreat. Convenience is key, with a dedicated laundry room and a half bath just off the garage—making everyday tasks a breeze. The heart of the home is the inviting open-concept kitchen and dining area, which offers abundant cabinet and counter space for your cooking and entertaining needs. The living room, complete with a charming gas fireplace, flows seamlessly out to your low-maintenance, fenced backyard—ideal for relaxing or hosting friends and family. A two-car attached garage and extra driveway parking for two more vehicles provide ample space for both your family and guests. Located close to military installations, shopping, and major corridors like Powers, Marksheffel, and Woodmen, this home is perfectly positioned for both work and play. The HOA takes care of utilities, snow removal, and lawn and tree maintenance in community areas, adding extra ease to your daily life. Don’t miss out on the chance to make this welcoming home yours!
Source: PPMLS #1258659
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: PPMLS #1258659
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 of Equal Opportunity Act.