6806 Whitebark Ln Colorado Springs, CO 80927
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About this home
BANNING LEWIS CORNER LOT with no neighbors directly in front. Enter the home through a covered front porch that peers out to one of the many open spaces/park areas Banning Lewis offers. Through the front door the foyer opens to the main level with an office space directly to the left and partially secluded from the living space creating the perfect environment for the at home worker. Continuing down the hall the kitchen, dining, and living area create a wonderful open concept space. The kitchen features stainless steel appliances, a barstool height center island, stone counter tops, and ample cabinet space. The dining area walks out to the covered back patio and spacious back yard through a sliding glass door. Back inside the home the living room has a fireplace for the colder Colorado nights. Just off the living room a half bath, business center, and mud room complete the main level. Walking upstairs to the upper level a loft area offers many possibilities from a play room, fitness area, tv room, or any number configurations depending on needs. All four bedrooms are on the upper level including the master bedroom that boasts a five piece bath with free standing shower, large garden tub, double vanity, and spacious walk in closet. Bedrooms two, three, and four share a full bath. A large laundry room completes the upper level. The basement level is currently unfinished but offers opportunity for completion. The Banning Lewis Ranch community has amenities galore, including neighborhood schools within walking distance, over 65 acres of parks/trails/open space for hiking/biking, tennis courts, pickleball courts, basketball court, rock climbing, zip-lines, access to pools, splash pad, water park, and dog park. The recreation center houses a fitness center and regularly hosts classes and events for all ages. In the summer months, catch a neighborhood concert, festival, food trucks, farmers market or enjoy other regular community events. This community has it all.
Source: PPMLS #6167616
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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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