2030 N Nevada Ave Colorado Springs, CO 80907
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About this home
Set on a corner lot in the Old North End, this updated Dutch Colonial blends timeless architecture w/ modern upgrades in one of Colorado Springs' most iconic neighborhoods. Positioned just blocks from Downtown, the home offers 1 car detached garage, convenient side street parking, a private backyard, & walkable access to schools, parks/trails, restaurants, Lincoln Center, Colorado College, Patty Jewett & Penrose Hospital. Covered porch entry opens to main level w/ 9’ceilings & engineered wood floors that flows throughout the main level. The open & bright great room is anchored by the original coal-burning fireplace w/ a newer floor to ceiling stacked stone surround. Archway leads into an open flexible dining area & fully remodeled kitchen. Tall baseboards, & modern lighting bring a clean, newer feel. The gourmet kitchen features expansive island w/ quartz counters, a 5-burner gas range, stainless appliances, & walk-out access to the back deck. Completing the main level is a bedroom w/ large closet & private attached ¾ bath, & a separate laundry room off the kitchen w/new luxury vinyl plank floor & all new paint. Upstairs, the remodeled primary suite offers a walk-in closet & private spa-like bath w/ glass shower & views of the mountains. The oversized secondary bedroom has room for a sitting/play area, & easy access to full bath across the hall, complete w/ clawfoot tub & vintage-inspired touches. All new carpet throughout the upper-level bedrooms/hallway/stairs. Out back, enjoy a deck w/ a pergola that overlooks the fire pit, & fully fenced maintenance free landscaped yard. In the front yard enjoy the raised garden beds & large porch offers a place to relax & interact w/ neighbors. Bonus items include storage shed, detached 1-car garage, central A/C, high-speed internet, stucco exterior & vinyl windows. This home is a must see!
Source: PPMLS #5046993
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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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