423 Ridge Rd Divide, CO 80814
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About this home
If you're looking to embrace mountain living, this spacious home, nestled in the lakes, hills, rocks and trees of the beautiful Spring Valley subdivision deserves a look! Featuring a main level with 3 bedrooms, 3 baths, a spacious living room, sunroom and expansive kitchen/dining room combination, all with varied, vaulted ceilings and windows to allow for ample natural light. Step out of the living room or primary bedroom and enjoy the large deck that overlooks most of the one acre lot with views into the woods that feel like you're part of the natural surroundings. A newly renovated sunroom supplements the deck. The convenient garage enters the kitchen through a laundry/mud room with an outdoor entrance and features a half bath for conveniently cleaning up after the many available outdoor activities this area offers. The finished lower level walk-out is perfect for a game room or for large parties, and is ready for anything your imagination can create, with a rough-in bath available. This home is ready for occupancy, and is priced to allow for you to customize the existing interior and exterior in any way you desire. Located in one of the most desirable areas of Divide, Teller County, this home is convenient to the city amenities of Woodland Park, minutes from the trails and recreational opportunities of Pike National Forest and a short drive to casinos, resorts and historic Cripple Creek attractions.
Source: PPMLS #7493391
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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.