381 Mt Bross Ave Severance, CO 80550
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About this home
Welcome to 381 Mt Bross Avenue! **4.75% transferable VA Loan** This home has been tastefully updated throughout to offer the new owners a home ready for an easy move-in and a basement ready for their personal touch. This property is centrally located between all the creature comforts one may need, including 9 parks, shopping, restaurants, coffee shops, and elementary through high schools, all within less than 2 miles. As you enter the home, you are greeted by high ceilings and a spacious walkway through the foyer and past the two generous bedrooms and shared bathroom. In the living space, you'll find an abundance of natural light pouring into the open concept space, perfect for hosting. The kitchen has been upgraded to feature new stainless steel appliances, including a double oven/gas range, vent hood, pot filler, large flex space fridge, and a large island for all to gather around. Past the kitchen, you'll enter the private primary suite with an attached walk-in closet and luxury bathroom with double sinks. Laundry is conveniently located just outside the primary suite with an included washer and dryer for complete main floor living. Moving downstairs, you will see the added value this home truly provides in an almost completely finished basement where the hard work and expense has been taken care of for you. A fully finished bedroom and bathroom are included as well as a framed, drywalled, insulated, electric-wired living and storage space ready for the new owners to finish to their liking. For additional buyer peace of mind, there is a high-efficiency furnace with a whole-home humidifier and an active radon mitigation system. The large lot provides tons of outdoor space and includes built-in speakers, additional concrete pad, and concrete edging surrounding the grass that is watered by non-potable water included in the community fees. Bring your toys and cut the storage bill with the large 3-car garage as well!
Source: RECO #IR1038529
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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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