6331 Tramore Way Colorado Springs, CO 80923
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About this home
Assumable Loan! Gorgeous, BEAUTIFULLY LANDSCAPED home that wows the moment you step on the covered front porch. Through the front door the main level opens to a spacious semi private living area with stairwell access to the upper level. Through the living room the dining area flows seamlessly into the kitchen that boasts a barstool height center island, stainless steel appliances, and beautiful counters and cabinetry. Leading to the garage access door, a butler cabinet provides an ideal space for a coffee bar with added storage and counter space. Just beyond the kitchen a private room is currently being utilized as a playroom but could be utilized as a more private home office, workout area, or any other configuration needed. The dining area walks out into the beautifully landscaped backyard with concrete patio, grass area, and partial xeriscaping for minimal maintenance. Just off the dining room a recessed area has a built in desk creating a wonderful at home work space or gaming area. The upper level has three bedrooms including the master bedroom featuring a large ensuite bath with garden tub, free-standing shower, double vanity, and spacious walk in closet. Bedrooms two and three have their own walk in closets and share a full bath with double vanity. Completing the upper level is the laundry room and two alcoves to either side of the stairwell that make a great reading space. The basement access door is just off the kitchen and walks down to a room currently being utilized as a workout area, but could be used as a game room or numerous other options. Down the hall is bedroom four, a 3/4 bath, and a spacious family room. This home has endless possibilities and with the combination of semi-private and open floor plan spaces there is something for everyone. Ideally located off the Powers corridor where access to shops, entertainment, and restaurants are endless.
Source: PPMLS #2796331
Loan details
Neighborhood
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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.