37 Warm Springs Rd Fairplay, CO 80440
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About this home
Welcome home to Warm Springs Ranch, this private, gated community is home to private, stocked fishing ponds, a large center swath of dedicated Nature preserve and miles of exclusive access to the National Forest. Founded in the mining days, remnants of old miner cabins dot the ranch and speak of when the property was a mecca for soaking in the "warm springs". Today it's a vibrant community of locals, investment properties and vacation homes. A clubhouse provides year-round events for community connections, tennis courts for pickleball, basketball and summer activities, a trash compactor and picnic area are just a few of the amenities unique to the Ranch. Embraced by National Forest to the West, owners have private access trails running through the neighborhood and many lots abut BLM and Conservation lands. This home is perched on a hillside above the largest pond with views that extend to Pike Peak, Mount Silverheels and endless plains. Home to moose, elk, deer, antelope and an array of wild birds, it's a nature lovers paradise. This ranch-style home is thoughtfully designed with the primary suite at one end and the other bedrooms on the other side of the kitchen/living area, for separation and privacy. A spacious dining room lends itself as a movie/game/theater space, office, home gym or a dining room for gatherings. The kitchen features a bar, laundry steps away and a window overlooking the private pond. Bedrooms are bright with big closets. The spacious living room features a wood fireplace and front deck access to the expansive front yard. A foyer with a freestanding gas woodstove connects to the attached 2 car garage. Just beyond that, the 30'x40' pass-through, heated garage makes the perfect expansive storage area for all your toys as well as a workspace for all your projects and hobbies. Short term rentals are allowed. Make plans to tour this affordable home in the Rocky Mountains.
Source: RECO #2078635
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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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