690 W 1st Ave Broomfield, CO 80020
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About this home
Incredible price improvement for a 9,000 square foot lot with 5 bedrooms and 2 bathrooms. Huge backyard. Appraisal 9/2024 $520,600. Huge Backyard. This home offers beautiful natural oak hardwood flooring and fresh new carpeting throughout. The coveted ranch floor plan features 3 bedrooms on the main floor, including a main-floor primary suite, plus 2 non-conforming bedrooms in the finished lower level. Laundry is conveniently located on the lower level as well. Recent upgrades include new double pane, energy-saving Champion windows (with a 1-year warranty), a new garage door, and a new white vinyl fence. Additional special features include surround sound and a wired projector and screen in the lower level, a stamped concrete patio, a brick sound-barring wall, recessed lighting, Kitchen tile flooring, kitchen tile granite and a freshly painted interior. Mechanical updates include a newer HVAC system, water heater, air conditioner, and updated carbon monoxide/smoke detectors. Broomfield Heights offers the charm of small-town living with the beauty of Colorado's Front Range right outside your door. Residents enjoy easy access to parks, trails, and recreational hotspots like The Bay, Broomfield Library, and the Paul Derda Recreation Center, which features fitness classes, an indoor aquatic park, a game room, and a climbing wall. Ideally located just 15 miles from both Denver and Boulder, Broomfield also boasts a vibrant cultural scene, supported by an active cultural council that provides free entertainment year-round. It's no surprise that Money Magazine ranks Broomfield among the top 20 best places to live in the U.S.! Welcome home!
Source: RECO #IR1033433
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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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