5071 Farris Creek Ct Colorado Springs, CO 80924
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About this home
Show off your new solar-powered home! On a quiet Cordera cul de sac, this two-story Keller Home has 5 bedrooms, 5 bathrooms, and a walkout basement! Enjoy covered front porch and Pikes Peak view from front yard. Main level features great room with wood floor, fireplace, and walk-out to deck with mountain view. Kitchen communicates perfectly with living and dining spaces across island with bartop seating. Enjoy gas range, granite, stainless, pantry, and sink overlooking back yard. Front room beside entry could be sitting room, study, or formal dining. Primary suite has vaulted ceiling, five-piece bath, and walk-in closet. The upper-level junior suite is a special feature – a second bedroom with attached full bath and walk-in closet! Third and fourth bedrooms, third full bath, and laundry room are upstairs too. Awesome walk-out basement could be movie room, gym, or family room, plus fifth bedroom and bathroom. Walk out to well-manicured, fenced yard with raised garden bed, trampoline, and sidewalk to front gate. Have a taste for the exceptional? The 22-panel solar array has produced about 12,400kW per year, enough to power household and vehicles. Brand new carpet, and newly refinished wood floor. Class IV roof installed 2024. Appliances installed 2023. Your healthy home has whole-house water filtration and 2023 furnace with air purifier and humidifier. Built-in trimlight exterior lighting, Smart smoke and CO detectors, and Ring security system. Insulated 24ft deep garage has 11ft ceilings optimized for storage, Level 2 Tesla charger, and additional EV outlet. Composite deck new in 2022, basement wired for surround sound, central A/C, and auto-sprinklers. Don’t lift a finger - head straight to the pool! Trail leads to Cordera Center with pool, gym, and fitness classes. This great neighborhood has unique parks and paths throughout, and premier Academy District 20 schools. Convenient to Powers, I-25, and new shops and restaurants. Get ready to move in! ASSUMABLE LOAN
Source: PPMLS #1636674
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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.