39445 Main St Galeton, CO 80622
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About this home
VA LOAN ASSUMTION ON THIS PROPERTY AT 2.75%, SELLER IS MOTIVATED. Back on market no fault of the home. Fantastic Opportunity: Welcome to this spacious 1 1/2 Story with tons of unique features. Nested on on a half acre, and lots of parking space and beautiful yard. This home has so much to offer, 5 bedrooms, 3 bath and lots of space to spread out. Very unique floorplan, perfect for family gatherings and guests. Open floorplan, main floor primary bedroom and suite, custom counters, lots of storage space, walk in closets, vaulted ceilings, brand new stove top and double oven, walk in pantry, breakfast bar and separate dining area. Beautiful porch and fenced yard with sprinkler system and many new trees. 2 car attached garage, storage sheds and a lift in the garage (handicap accessibility). Basement is accessible from the garage which is perfect for separate living area/Mother in law quarters. Schedule your showing today. Bring the family and your toys.
Source: RECO #IR1046358
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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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