1010 Holmes Dr Colorado Springs, CO 80909
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About this home
This charming home has a great layout and 2 garages, fully updated with great features. Walk into the inviting living room with a large picture window and a wood stove for the chilly nights to make this warm home even warmer. Kitchen with stainless appliances, pantry's and granite counter plus the patio door to the covered patio and sidewalk to the detached shop. Versatile 19x23 heated detached shop has been used as a photography studio and car shop so whatever you need it for. Back yard with a view to the peak and another wood deck adjoins the patio area. Separate dining room with a built in hutch for your good dishes. Two nice sized bedrooms one with a mountain view. Charming updated bathroom is in the hall. Attached 11x22 garage with a workshop area in the front plus a door to the back yard. The master suite in the basement makes it a great get away area. Large bedroom with a walk in closet, adjoins the large master bath with soaking tub and a separate shower, which also conveniently adjoins the laundry room. Family room is a good size and a great place to relax. Bonus room is another great space for a hobby area. Check it out today.
Source: PPMLS #6938913
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.