270 Rangely Dr Colorado Springs, CO 80921
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About this home
Beautiful Gleneagle Retreat with Pikes Peak Views and Assumable loan!!! Experience refined Colorado living in this beautiful home nestled in the sought-after Gleneagle community, offering views of Pikes Peak and a serene, private setting surrounded by mature trees and lush landscaping. The main level welcomes you with an impressive open layout designed for both comfort and entertaining. The upgraded kitchen showcases granite countertops, double ovens, a flat top stove, built in microwave, side by side refrigerator, and an expansive pantry, perfect for the home chef. A sunny breakfast nook provides casual dining space, while the formal dining room flows effortlessly into the spacious living room featuring soaring vaulted ceilings, a moss rock wood burning fireplace, a built in wet bar, and access to the fully enclosed and baseboard heated sunroom filled with natural light. The luxurious main level primary suite includes an adjoining bath with double vanities and an oversized shower, offering a private retreat at the end of the day. Completing the main floor are a convenient half bath and laundry room. Upstairs, two generously sized bedrooms with vaulted ceilings are accompanied by a full bath and a versatile flex room ideal for a home office, hobby area, or additional bedroom. The finished walkout basement extends the living space with a large family room anchored by another moss rock wood burning fireplace, a guest bedroom, three quarter bath, and a utility room with ample storage and a rough in for a wet bar. Outdoors, enjoy tranquility and privacy with a beautifully landscaped yard featuring a large water feature, raised garden bed, and storage shed. The three car garage offers added functionality, with one bay fully finished and direct access to a finished utility room. Combining mountain charm with thoughtful upgrades and timeless design, this exceptional Gleneagle home is truly a rare find.
Source: PPMLS #2952833
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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.