4261 Horse Gulch Loop Colorado Springs, CO 80924
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About this home
Stunning Rancher with mountain views situated in Cordera and highly sought-after District 20. This open floorplan, 4-bedroom, 3 bathrooms, with finished, walk-out Basement spans over 3600 square feet with outdoor covered patio and deck. Step inside to find a thoughtfully designed open layout idea for entertaining and everyday living with rich hardwood flooring, open floorplan, and an abundance of natural lighting throughout. Main level offers guest bedroom and full bath with decorative tile flooring, formal Dining Room with Bay Window, Great Room with Stacked Stone Fireplace flanked by built-ins for extra storage, and glass sliding doors leading to a sizable, covered deck with mountain views. Eat-in Kitchen boasts, built-in bench seating, gas cooking, stainless steel appliances, Large Island with sink, seating and pendant lighting, soft close cabinetry, quartz counters, and pantry. Spacious Primary Retreat offers vaulted ceiling, walk-in closet, and en-suite with tile wrapped spa shower, Double sinks, and separate water closet. Laundry room with storage completes the main level. The finished, walk-out basement expands living space with two additional bedrooms, full bath, plenty of storage, and an enormous, Family Room with outdoor access to a cover patio. Additional features include, oversized 2 car garage, Central Air, Formal Dining, Recessed lighting throughout, Surround Sound, mud/laundry room with shelving and storage, Quartz counter throughout the home, and multiple eating and entertaining areas. Community features clubhouse, Community Center, hiking or Biking trails, parks and open spaces and pool. Conveniently located near schools, shopping centers, medical centers, and about anything you can imagine.
Source: PPMLS #5007666
Loan details
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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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