2120 Lee Circle Dr Woodland Park, CO 80863
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About this home
Escape from the hustle and bustle to this RARE quiet ranch estate only a few minutes from town! As you turn down the gravel driveway, prepare to be stunned by the incredible Pikes Peak views from this 8 acre property that backs to National Forest! This spectacular property features a main residence that backs to a lush gulley before entering in to the Pikes National Forest. Main residence has expansive front and back decks to take in the views. During the cold months, enjoy the day in the bright sun room that is located right off of the kitchen and living room. This spacious home has bedrooms on every level, three fire places, full walk-out basement, and multiple living areas. Steps from the main residence is a charming cabin that dates back to the 1960’s Girl Scout camp days. Complete with many unique touches, this one bedroom/bath cabin could be a wonderful guest house, rental, and has room for one more bedroom! Detached 3 car garage is a place to tinker, or park your vehicles. HORSE ENTHUSIASTS will fall in love with the adjacent barn complete with 5 stalls plus room for 2 more that have indoor/outdoor access, loafing shed, tack room, office, and more. After saddling up, take the private access to hit the trails. Steps from the barn, large fenced pasture or outdoor riding area provide extra room for all of your animals. The CROWN JEWEL of this property is the incredible 144x106 foot indoor riding arena complete with lights, heat in stall area, office, tack room, kitchenette and wash area, and hay storage. Roll up doors on both ends of the arena provide for incredible views while riding! Property is completely fenced with two wells, septic, an RV plug in and septic connection line. Future owners do have the option to tie in to city sewer and water. Additional outdoor arena/pasture next to indoor arena has lots of possibilities! This opportunity to own a little slice of cowboy heaven near all the modern conveniences of town only comes along once in a lifetime!
Source: PPMLS #3051716
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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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