9612 Timberlake Loop, Colorado Springs, CO 80927
3 beds · 4 baths · 2,008 sqft
Rare Unobstructed Views of Pikes Peak! Desirable Banning Lewis Ranch has a big inventory of houses to chose from, why this one: BECAUSE The location in the subdivision not only boasts stunning mountain views it is on the edge of the community which offers ease of access and openness instead of backing to multiple neighbors. Location, Location, Location and it offers multiple upgrades and distinct offerings. This luxurious three story home features three spacious bedrooms, four modern bathrooms, a two-car garage, and ample stylish touches throughout. The living room, dining room open floor-plan has a wall of windows that floods the house with natural sunlight. The Chef's Kitchen boasts an extra large center island, stainless steel appliances, and convenient pantry for prep and entertaining. Guests can take in the sunset from the extended back deck that is like none other. The master retreat has a generous walk in closet, a private bath with double sinks of granite countertop and large shower to pamper. Upstairs is a plethora of possibilities: two bedrooms and a full bath to use however the new owner prefers. Lower level has access to the fully fenced yard for pets and people to enjoy, plus huge flowing family room that is divided by a guest half bath. Carpeted and finished space under the stairs can be utilized as a playhouse, pet sanctuary, or additional storage. In addition to its exceptional design and breathtaking surroundings, this house also offers access to various clubhouse and community amenities that enhance the overall living experience. Come take a look to be a part of something special!
Source: PPMLS #3922565
Interest rate and monthly payment estimated based on public records.
Source: PPMLS #3922565
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: #3922565
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.