8115 Freeman Dr, Colorado Springs, CO 80908
4 beds · 4 baths · 3,111 sqft
Main Level Living at its best! 4BR, 4BA, ranch style home nestled on a 2.64-acre horse-zoned lot in the tranquil Black Forest neighborhood of Ponderosa Pines. Top rated D-20 schools. 3111 SF of well-designed space w/ oversized 2-car garage & a 1-car tandem garage. Skylights flood the home w/ natural light. New carpet throughout. Radiant heat & ceiling fans for year-round comfort. Tiled Entry w/ coat closet. The Great Rm offers a wood burning fireplace w/ brick surround & built-in desk w/ upper cabinets. The Formal Dining Rm is located off the Kitchen & has a walk out to the backyard. The Kitchen is a chef’s paradise that features a convenient pass thru to the Dining Rm, a pantry, abundant wood cabinets w/granite countertops, & breakfast nook for informal dining. Appliances incl a gas cooktop, double ovens, dishwasher & French door refrigerator. Walk-Out Laundry Rm w/ built-in cabinets & sink. 4BRs w/ neutral carpet. The vaulted Primary BR is a private retreat w/ walk out to the backyard patio, a walk-in closet w/custom organizer, built-in shelves, & custom barn door into the adjoining luxurious Shower Bathroom w/dual sink vanity, make up vanity, framed mirrors, & dual-sided gas fireplace shared w/ the Primary BR. You will love the adjoining private office making it convenient to work from home. A 2nd suite incl a loft, walk-in closet w/ organizer, & Full Bathroom, perfect for teens. 2 more BRs share a Full Bathroom. The hallway has a water closet w/ sink. The fenced yard offers a spacious patio to enjoy the incredibly beautiful, treed lot, a treehouse for the kids, & 3 storage sheds for tools & toys. Private well and septic system. No HOA so RV or small boat parking is ok. Close to schools & Black Forest Regional Park. Enjoy peaceful country living w/ all the conveniences of city amenities nearby!
Source: RECO #2465440
Financials
Source: RECO #2465440
Source: Public records
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%. 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.
Other resourcesWhat 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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