637 Rock Rd Bailey, CO 80421
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About this home
10 ACRES INCLUDING MOUNTAIN HOME! This beautiful home is nestled in a storybook setting at 9,000 feet. This custom home is quietly tucked into the side of a mountain, surrounded by 10 private acres of majestic forest with plenty of flat, bottomland to enjoy, featuring a second gate and private access. Pike National Forest backs to the property, offering over 40,000 acres for hiking, nature trails, horseback riding, hunting, four-wheeling, and biking, with several trailheads and camping sites. Take in the incredible view of Mt. Rosalie, one of Colorado's 14ers, from your deck, living room, and bedroom, which includes a stunning view of the Rocky Mountain Range. A mountain spring-fed creek runs throughout the property. The land features a pond fed by the creek w/water flowing continuously. Commute to Denver Metroplex (45-50 min), Breckinridge (one hour 20 min), Bueno Vista River rafting (one hour 20 min), Conifer (25 min), a 8-minute drive to Highway 285 (via hwy 43), and a 12-minute drive to Bailey. Completely renovated in 2013! The home boasts granite countertops, stone flooring, tiled bathrooms with hand-painted tiles, and sinks imported from Mexico. This beautiful property is partially fenced with a back-pasture gate entrance. There is an abundance of wildlife for you to enjoy, including foxes, bears, moose, deer, elk, and more. The property offers four outbuildings, a hay barn, a tack room, a barn with two stalls, and a storage building, including a chicken coop and a fenced-in dog run. WIFI, electric, and natural gas. The property has a high-producing spring water well, with a Colorado seal of endorsement, and is suitable for livestock. The driveway accommodates up to four cars for parking. This home has a landline and an AT&T cell tower visible from the home. Your buyers will enjoy reliable CenturyLink Link wifi and andline. The land has been fire-mitigated through a public grant. The seller is offering a one-year home warranty.
Source: RECO #4083738
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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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