17836 Wildwood Ave, Lansing, IL 60438
3 beds · 1 baths · 1,512 sqft sqft
Welcome home to a beautiful, three bathroom, one bathroom home situated on a purely residential street! Walk into a spacious living room accentuated with luxury vinyl floating, a fresh paint color and east facing, oversized windows that light up your living room in the morning! Unwind in your living room after a long day at work and enjoy it with family, and friends. There is a bedroom on the first floor, which is perfect for family members or an in-law arrangement. Then, step into an updated kitchen featuring spotless solid oak cabinets, a crisp white quartz countertop and a combination of newer stainless steel appliances and a couple all white appliances. There is an updated bathroom off the kitchen along with a side-by-side washer-and-dryer. Then head upstairs! The second floor features two spacious bedrooms with ample closet space. It even gets better: with a large yard and a 2.5 car detached garage. This oversized, fenced yard is perfect for kids, and for those perfect family weekend parties! The supersized garage, and long driveway, is perfect for multiple cars including work and commercial trucks. This home also features: newer windows, newer vinyl siding and a newer garage roof. There is no basement but there is a crawl space. It is also close to it all: I-80/94, schools, shopping and restaurants. A must see. A 10! IMPORTANT NOTE: The seller's FHA loan is assumable at a 2.75% interest rate with an approximate mortgage balance of $99,000. This means that the buyer will need to bring the difference of the contracted price and the seller's current mortgage pay-off balance as a down payment and then the buyer can assume the loan; please contact the listing agent for details.
Source: MRED #mrd12166879
You may be able to put down less than the total down payment amount of $42,796 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 #mrd12166879
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: #mrd12166879
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.