861 Balsam Dr Cimarron, CO 81220
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About this home
Fully furnished mountain home in the well established Arrowhead community. Enjoy the 744 square feet of additional living space above the garage in addition to the main house living space. In the main house you will be greeted with plenty of natural light and tongue and groove vaulted ceilings. In the kitchen you will find all brand new appliances that will stay with the home. Enjoy the lovely views from the upper level boasting an amazing loft area great for those quite peaceful mornings. This beautiful cabin is setback away from the roads and tucked into the tranquil sounds of the wooded area. Picturesque views from the three, multilevel, decks. Off the spacious primary bedroom step out side into the fresh mountain air and relax in your New hot tub. This property comes with a detached oversized garage pull through garage with the bonus space above. Only minutes away from the winter parking lot, you can enjoy this cabin in the winter time for a nice winter wonderland retreat. The Polaris Expedition 1000 Side by side is negotiable. Brand new appliances, Renewal by Anderson window and doors have recently been installed August 2024 with lifetime transferable warranty. The Arrowhead community offers three lakes/ponds that you can enjoy as well as trails for biking or riding your atv or side by sides on. Enjoy a warm meal at the lodge or sit outside and listen to the music provided by the bands that the lodge brings in during the summer weekends. This community offers several events and get togethers throughout the year so take a look at what they have to offer and enjoy this amazing community. Enjoy year round trips to the wonderful Blue Mesa Reservoir for fishing. Big Game hunting only minuets away from the community. HOA maintained nordic cross country ski track. Revel at the natural sites of the Black Canyon. Ski the slopes of Telluride or Monarch for a quick day trip or Bask in the sun in the Hot springs of Ouray, Co or listen to the sounds of Box Canyon.
Source: PPMLS #8871364
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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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