1304 Burnham St Colorado Springs, CO 80906
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About this home
Nestled on a quiet street in an established neighborhood, Stratmoor Valley, this delightful ranch-style home offers the perfect combination of space, location, and value. Featuring 4 spacious bedrooms and 2 bathrooms, this residence provides versatile living arrangements for families, multi-generational living, guests, or even a dedicated home office. As you step inside, you’re welcomed by a bright and inviting living area filled with natural light that creates a warm and comfortable atmosphere. The generous layout offers plenty of room for relaxing evenings, movie nights, or hosting friends and loved ones. The thoughtfully designed kitchen provides excellent cabinet and counter space, making meal preparation a joy. The expansive backyard provides plenty of room for gardening, play, and relaxation under Colorado’s sunny skies. With no HOA restrictions, you have the freedom to personalize your outdoor haven exactly how you want it. Each of the four bedrooms is well-sized with ample closet space, providing privacy and flexibility for all household members. Location is truly one of the highlights of this home. Situated near multiple military installations, local schools, neighborhood parks, and a variety of light bites and dining options, this home offers unbeatable convenience. You’ll love being just minutes away from shopping, restaurants, and recreational activities while still enjoying the peace of a residential community. Easy access to major roadways ensures smooth commuting to anywhere in Colorado Springs and beyond. This home is a fantastic opportunity for buyers seeking affordability, space, and a central location in one of Colorado Springs’ established areas. This home also has lots of new. It has a newer sewer line, and stamped concrete. Whether you’re a first-time buyer, looking to invest, or searching for a place to settle down, this property has so much potential waiting for you to make it your own. Don’t miss your chance to make this your new home.
Source: PPMLS #3803723
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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.