8221 Marshall Ct Arvada, CO 80003
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About this home
Totally remodeled ranch in the highly desired Lake Arbor neighborhood! VA loan at 3% might be assumable. This is the largest ranch in the neighborhood, located just five homes from the Lake and playground. The entire home has been refreshed with new interior and exterior paint, brand-new carpet, and luxury vinyl flooring throughout. The kitchen and all three bathrooms have been beautifully remodeled. Major systems are updated as well, including roof and gutters, furnace, A/C, hot water heater, garage door and backyard fencing. Even the sewer line is clean, for peace of mind. The remodeled kitchen features new cabinets, countertops, an added island and a pantry, creating a truly one-of-a-kind floor plan. The finished basement is spacious, with two non-conforming bedrooms, a new 3/4 bath, and a large entertainment area. New recessed lights in most rooms up and down. The laundry room has Colorado living in mind, offering plenty of space for all your outdoor gear. The open layout offers a small mountain view from the kitchen, with expansive mountain views just steps away at the lake. Outside, the generous backyard is ready to be transformed into your private oasis. The HOA fee is only $35 per year, making this community incredibly affordable. Within the neighborhood, you’ll also find the Lake Arbor Recreation Center with pool and tennis courts, a 1.5-mile walking path around the lake filled with wildlife, Lake Arbor Golf Course, and multiple trails and parks for walking and biking. Conveniently located near Olde Town Arvada, Downtown Westminster, and Highway 36, this home offers modern updates, an unbeatable location, and an active lifestyle at an incredible value.
Source: RECO #9235534
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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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