1617 S Main St, Lombard, IL 60148
2 beds · 2 baths · 1,643 sqft sqft
Welcome to this charming and spacious ranch home, offering 1,643 square feet of beautifully designed living space-comparable to many three-bedroom homes in the area. Located in a prime spot, this property faces the tranquil Four Seasons Park and playground, making it an ideal choice for families and sport enthusiasts alike. As you step inside, you'll be immediately captivated by the expansive living and dining area, featuring elegant crown molding and luxury vinyl plank flooring-a perfect setting for holidays and family gatherings. The warm and inviting family room boasts a stunning stone-raised hearth fireplace and an elegant tray ceiling, creating a cozy and welcoming atmosphere. The primary suite is a true sanctuary, offering a vaulted ceiling, a spacious walk-in closet, and a private bath for your comfort and convenience. The second bedroom is generously sized, complete with custom closet organizers. At the heart of this home lies the expansive kitchen, designed with an abundance of cabinetry, granite countertops, a pantry cabinet with pull-out shelves, a planning desk, and a dining area. The adjacent glass patio doors open to a lovely 18x13 deck, perfect for entertaining or simply relaxing in your beautifully maintained yard. A convenient shed in the backyard provides additional storage space. With a two-car garage and a practical circle drive, you'll enjoy the ease of entry and exit. The home features Anderson windows throughout, a newer furnace, fresh paint, new flooring in key areas, and modern light fixtures. Enjoy the freedom of homeownership without the hassle of HOA fees, and take advantage of the added potential offered by the partial basement. Move right in and experience the perfect blend of comfort and convenience!
Source: MRED #mrd12149320
You may be able to put down less than the total down payment amount of $129,937 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12149320
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #mrd12149320
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.