7691 Scarborough Dr Colorado Springs, CO 80920
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About this home
Welcome to a beautifully maintained bi-level nestled in desirable Briargate (D-20 schools) with an attractive assumable loan! Just 3 houses down from the neighborhood park and offering added privacy with no neighbor on the opposite side, this home combines comfort, convenience, and charm. Enter onto a spacious landing that leads to the upper level with gleaming wood floors flowing seamlessly between the open kitchen, living, and dining areas. The living room also offers peekaboo mountain views, bringing Colorado beauty inside. All three bedrooms are conveniently located on the upper level. The primary suite features a luxurious 5-piece bath with a garden tub, with another full size bathroom on the upper floor. The garden-level lower floor is bathed in natural light from two generous windows and includes a cozy gas fireplace. A well-placed half bath and laundry area complete this level. Enjoy modern comfort with central A/C and ceiling fans throughout. Recent updates include newer kitchen appliances, fresh carpeting, and a new roof in 2024 for your peace of mind! A two-car attached garage with a landscaped, sloped front, and no HOA restrictions make this an ideal package. Easy access to Woodmen, Powers, I-25, and the U.S. Air Force Academy (approx. 20 minutes) keeps your world connected. Step into this Briargate gem and discover the home you’ve been searching for. Serene, spacious, and smartly updated to match your modern lifestyle.
Source: PPMLS #3592681
Loan details
Neighborhood
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Close stress-free in 45 days, handled start to finish by Roam.
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If you find a better price on any home, we’ll match it.
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.