517 Crystal Peak Rd Florissant, CO 80816
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About this home
Beautifully updated raised ranch style home located 1/2 mile from Highway 24 for easy access to the historic town of Florissant! This 4 bedroom 3 bath home is situated on .86 acres with views to the West! So many upgrades to mention: Sellers installed a new stone patio with pergola and water feature for outdoor entertaining and the hot tub is included; split rail fenced back yard for your family and pets; stunning hardwood Pecan flooring throughout the main level; kitchen includes stainless steel appliances, pine cabinetry w/ leaded glass cabinet doors, & corner walk-in kitchen pantry; custom built-in glass bookcases along the main level hallway; vaulted ceilings in the great room; solid 6 panel wood doors and trim; renovated bathrooms including new tile, vanities, fixtures, lighting, and commodes; new carpeting; new high efficiency furnace; new hot water heater; heat and cold inverter systems for living area and owners suite for air conditioning capabilities; luxury vinyl plank flooring throughout the lower level; custom built-in entertainment shelving and bookcases in the family room; whole house Generac generator; and RV parking pad w/ 50 amp electrical and sewer hook-up. Property has been a successful vacation rental, 2nd home, and furnishings can be available outside of the purchase. Don't miss this special opportunity to have a mountain getaway, just 40 minutes from Colorado Springs, and only 1.5 hours to local snow skiing and the Continental Divide, and only minutes to trophy trout fishing! The epitome of Colorado mountain living and adventures awaits!
Source: PPMLS #9991548
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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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