23963 State Highway 96 W Wetmore, CO 81253
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About this home
Conveniently located only 30 minutes from Pueblo and 45 minutes from Colorado Springs, this rare gem sits nestled on the mountain with a side deck overlook of Pike’s Peak and Pueblo. The log cabin-styled home is situated in the center of a 37-acre lot a half mile off the main road. There are approximately 20 acres of wooded pines with 4 carved out trails, one that leads down to the creek at the corner of the property. The portion of land covered with scrub oak can be cleared and used for livestock. There is a half-acre kennel for goats, dogs, or both. Connected to the kennel are two full-size chicken coops. Also on the property is a 10x50 ft. greenhouse with 6 raised beds inside and 3 outside. The back yard is fenced in with a 5 ft. privacy fence to keep dogs in and wildlife out. There is a 12x16 ft. gazebo in the back yard that is great for entertaining guests. Electric is run in the back deck to support a hot tub. The house has many updates, including concrete sidewalks poured around the entire house, granite countertops in kitchen and bathroom, hardwood teak floors, copper sinks and four new Champion windows. The utility room was recently converted into a second bathroom, with all new amenities. Well water is provided, with a new filtration system inside the house and an updated on-demand water heater. Pictures do not do it justice!
Source: RECO #8101276
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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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