4545 Bays Water Dr Colorado Springs, CO 80920
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About this home
This expansive 4-bedroom, 4-bathroom home offers nearly 4,000 square feet of finished living space in one of Briargate’s most desirable neighborhoods. Located near top-rated District 20 schools, parks, shopping, and dining, it combines comfort, convenience, and timeless design. Vaulted ceilings and oversized windows fill the main level with natural light, highlighting an open-concept great room with gas fireplace and upper-level overlook. The main floor also features a private office, formal dining room, and a second living area that flows into a spacious kitchen and breakfast nook—ideal for gatherings and everyday living. Upstairs, the vaulted primary suite includes a double-door entry, generous walk-in closet, and private en-suite bath. Three additional bedrooms and two full bathrooms offer flexible space for family or guests. The finished basement expands the living space further with a large rec room, additional bathroom, and ample storage. The home has been well maintained and offers spacious living throughout, with opportunity to personalize finishes in areas like flooring or the kitchen. Recent updates include a new gas furnace. Outside, enjoy a peaceful backyard pond with fountain and lush landscaping, mature trees, and patio area—perfect for relaxing or entertaining. A 2-car garage and established curb appeal round out the package.
Source: PPMLS #6219724
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.