648 Westcliffe Dr Rye, CO 81069
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About this home
ASSUMABLE 2.75% VA LOAN! Nestled within the tall pine trees, this beautiful ranch-style home boasts 1628 sq ft of living space, with 3 bedrooms and 2 baths and a spacious 6.43-acre wooded lot in Rye, Colorado. Built in 2015, the main-level primary bedroom provides convenience and privacy, while the open design kitchen, equipped with energy-efficient appliances, is perfect for entertaining family and friends. The home exudes warmth and charm with hardwood flooring throughout, complemented by a cozy wood-burning fireplace in the living room, making it an ideal retreat for those chilly Colorado evenings. Step outside to discover an outdoor haven featuring a peaceful, scenic deck with breathtaking views of St. Charles Peak to the west and Greenhorn to the South. The exterior of this ranch-style home includes log siding and a durable metal roof, ensuring its longevity and appeal. For the outdoor enthusiast, this property is bordered by Aspen Acres and BLM land, providing access to endless opportunities for camping, hiking, hunting, and recreation. The gazebo contains a built-in smoker is perfect for hosting gatherings while listening to the soothing sounds of St. Charles Creek year-round from your back porch. Additional perks include RV parking with water and 30 Amp electrical hookups, a large workshop, and even a charming treehouse for family fun. Just a couple of miles from Lake San Isabel, you can enjoy paddle boarding in the summer and ice fishing during the winter months. The charming town of Westcliffe is just a 40-minute drive away, providing unique shopping and dining experiences. Golf enthusiasts will appreciate the nearby Hollydot Golf Course in Colorado City, while the majestic San Isabel National Forest and hiking trails near Ophir Creek promise adventure.
Source: RECO #6551298
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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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