5480 Leon Young Dr Colorado Springs, CO 80924
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About this home
Welcome to your dream home nestled in the prestigious Wolf Ranch neighborhood. This meticulously crafted 6-bedroom, 4-bathroom home boasts luxurious features and a spacious layout. Vaulted ceilings and large windows fills the home with natural light to emphasize the open floor plan. For the culinary enthusiast, the kitchen is a true masterpiece. Adorned with granite counters, premium cabinetry, and a generous pantry, it provides both functionality and beauty. The gas stove ensures your cooking endeavors are a delight, while the ample counter space allows for easy meal preparation and hosting. The luxurious master suite is a sanctuary of comfort, featuring a spa-inspired en-suite bathroom complete with a walk-in shower and dual vanity sinks. Five additional well-appointed bedrooms provide versatility, making them ideal for guests, a home office, or a playroom. Outdoor living is at its finest in this residence. The extended, fenced backyard provides ample space for recreation and relaxation. Enjoy the enchanting Colorado evenings on the large patio, perfect for outdoor dining, entertaining, or simply basking in the beauty of the Colorado surroundings. Car enthusiasts will appreciate the 3-car garage with a 4-foot extension and a convenient service door. With ample storage and space, it ensures your vehicles and belongings are housed comfortably. Nestled in the heart of Wolf Ranch, this home is surrounded by scenic views, top-tier amenities, and a sense of community that is second to none. Discover a life of tranquility, luxury, and convenience. Don't miss the opportunity to make this dream home yours – schedule a showing today!
Source: PPMLS #5280364
Loan details
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Close stress-free in 45 days, handled start to finish by Roam.
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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.