1538 Peninsula Cir Castle Rock, CO 80104
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About this home
Instant equity and income potential! This spacious Castle Rock home features a private walk-out basement with a full mother-in-law suite — perfect for multigenerational living, guests, or rental income. Recently appraised at $900,000 — offering built-in equity from day one! Located in a desirable golf course community and priced below market, this property offers endless potential for the buyer ready to bring their vision and a little TLC to make it shine. With 6 bedrooms and 5 baths, there’s room for everyone — and plenty of opportunity to build value in a prime location. Inside, you’ll find a grand curved staircase, vaulted ceilings, and light-filled living spaces. A large foyer opens to the formal dining room—ideal for memorable family gatherings and celebrations. The family room features a cozy fireplace, soaring ceilings, and sun-filled windows. The kitchen includes granite countertops, a center island, and plenty of cabinet space, with a breakfast nook overlooking the greenbelt and open space. Step outside to the deck to enjoy mountain views and stunning Colorado sunsets. The primary suite offers a sitting area with fireplace, dual walk-in closets, and a five-piece bath. Upstairs, one of the secondary bedrooms has a private en-suite bath for added flexibility. The walk-out basement has been freshly updated with new paint and carpet, featuring a full kitchen with granite countertops, dining area, two bedrooms, and a bonus room ideal for an office, gym, or guest suite. Enjoy outdoor living with a covered patio, open-space views, and sand play area. Just minutes from downtown Castle Rock, shopping, dining, and recreation — a wonderful opportunity to customize, update, and build equity in one of Castle Rock’s most desirable golf communities. SELLER OFFERING $10,000 IN CONCESSIONS WITH A FULL-PRICE OFFER CLOSING IN NOVEMBER — MAY BE USED TOWARD CLOSING COSTS OR TO BUY DOWN THE RATE!
Source: RECO #4605211
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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.
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