7035 Whitebark Ln Colorado Springs, CO 80927
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About this home
Welcome to this stunning home tucked away on a quiet cul-de-sac in the desirable master-planned community of Banning Lewis Ranch. Designed for both comfort and convenience, this home features an open floor plan with 9 ft. ceilings, a spacious finished basement, and granite tile countertops throughout. The open kitchen will be great for entertaining your guests. Electric cooktop but there is a gas hookup too. Safe step walk in tub in master bathroom and stairlift for basement makes it easier for those needing a little extra help. Newer hot water heater. Newer convection wall oven. Newer Dishwasher. Finished basement with a pool table will be the hangout for fun game night. Two spacious bedrooms in basement. A large storage area in basement for all the stuff you don't want in the garage. Step outside to your low-maintenance backyard oasis—complete with custom concrete covered patio, durable artificial turf, and your very own putting green. Spend your weekends relaxing and entertaining instead of mowing and trimming the backyard! Living in Banning Lewis Ranch means embracing a lifestyle of community and activity. Neighborhood highlights include: Award-winning schools: Banning Lewis Ranch Academy & Banning Lewis Preparatory Academy Over 50 acres of parks, trails, and green spaces Two community pools, tennis and pickleball courts A fitness center and recreation center for year-round activities Enjoy all the best of Colorado living, right in your own neighborhood!
Source: PPMLS #1611856
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.