Price Reduced to Sell! Move-in ready with a passed City of Berwyn Pre-Sale Inspection!! Beautifully updated brick 1.5-story home featuring 3 spacious bedrooms and 2 full bathrooms. This move-in ready home offers a stunning modern kitchen with sleek white cabinetry, elegant white granite countertops, stylish grey and white herringbone backsplash, farmhouse stainless steel sink, and stainless steel appliances. The oversized island provides additional seating and prep space, making it perfect for entertaining and everyday living. Contemporary grey vinyl flooring flows throughout the home. Both bathrooms have been tastefully updated with modern finishes and designer touches throughout. The first floor bathroom offers a luxurious atmosphere with granite countertops, dual vessel sinks, floor-to-ceiling tiled shower surround, and a modern glass-enclosed soaking tub and shower combination. The second floor bathroom showcases elegant grey tilework with stylish hexagon accent detailing, a sleek dark vanity with contemporary fixtures, and a spacious tub/shower combo with glass sliding doors for a spa-like feel. Step outside to a massive fully fenced backyard featuring over 1,500 sq ft of maintenance-friendly stone patio space with no grass to maintain - ideal for hosting, relaxing, and outdoor enjoyment. The yard includes a pool (being sold as-is and requiring repairs), a 9x9 dog pad/run, a carport perfect for motorcycles or a compact vehicle, and a 1.5-car garage offering additional storage and convenience. Located in North Berwyn near the Oak Park border, this home offers convenient access to shopping, restaurants, grocery stores, parks, and schools. Commuters will appreciate the nearby Metra station, CTA bus and train access, and easy connections to I-290 and I-55 for quick travel to downtown Chicago and surrounding suburbs. Don't miss your chance to own this beautiful home just in time for summer - schedule your private showing today before it's gone!
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
