Beautifully updated 4 Bedroom Lowden Model! This home features gorgeous kitchen and bathroom updates, a spacious first floor layout features a Living Room fireplace, separate Dining Room and first floor Laundry Room and Walk-In Pantry. New quartz topped Bathroom vanities, and fixtures throughout. Updated light fixtures and ceilings fans, plus new carpeting upstairs. The basement is finished and contains the 4th Bedroom with Play Space, Storage and room for Workout Area/Office. Trails wind throughout the gorgeous, native plant-filled prairie providing opportunities for many outdoor activities including jogging, hiking, biking, and cross country skiing. There are tennis courts, a fitness center and sand volleyball courts. A beautifully landscaped beach overlooks Lake Leopold, a 20 acre private lake, exclusive to residents and their guests. Lake life is perfect for kayaking, swimming, paddle boarding, fishing and sunset viewing. A charcoal grill is perfect for beach picnics. A variety of playgrounds are nestled throughout the neighborhood as well as community fire pits and an Edible Landscape area that features cherries, apples and berries available for picking! Liberty Prairie Farm is an organic farm that harvests USDA certified organic vegetables year round on the premises! Weekly shares of fruit and vegetables can be purchased each season or visit the farm store open to the public. Imagine farm fresh, free-range eggs for your breakfast table! Bring your horse~Prairie Crossing Stable with an outdoor riding ring and 10 miles of trails, plus additional trails accessible via the Oak Openings Forest Preserve. Founded on environmental principles, Prairie Crossing has an appreciation for the importance of open land preservation. Much more than a neighborhood, Prairie Crossing is truly a community with planned social events, such as Beach BBQ's, Egg Hunts, Fourth of July Bike Parades and Summer Concerts at the Gazebo! Woodland District 50 for grade school as well as in district for Prairie Crossing Charter School, an environmentally based charter K-8 school nestled in the community. Admittance is by lottery to those who live in district. Prairie Crossing is at the intersection of Metra Milwaukee District North and Metra North Central's lines for convenient transportation to downtown Chicago and O'Hare. Prairie Crossing is also served by the Pace Suburban Bus, lines 572/574. Come visit and experience life on the prairie!
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.
