Nestled within the prestigious Yorkville area, this exquisite 1923 traditional residence offers a harmonious blend of timeless elegance and modern luxury. Spanning over 4.1 acres, the property is a private oasis, surrounded by lush greenery and mature trees, providing an unparalleled sense of tranquility and seclusion. Step inside to discover a grand foyer adorned with a stunning curved staircase, setting the tone for the sophisticated design that flows throughout the home. The interior boasts seven spacious bedrooms and four and a half bathrooms, each thoughtfully designed. Crown moldings and rich wood floors enhance the warmth and character of the living spaces, while two inviting wood-burning fireplaces create cozy focal points in the main gathering areas. The heart of the home is the gourmet kitchen, featuring a generous island and a butler's pantry, perfect for entertaining and culinary adventures. The first floor has expanded spaces of an office, garden room with arched windows, updated half bathroom and family room. The highlighted features for this home on the second floor is a primary suite, walk in closets, the convenience of a 2nd floor laundry area enhancing daily living and the expanded social gathering room. The partially finished basement offers additional space, perfect for a home gym or recreational area. Outside, the property continues to impress with its amenities. A hot tub invites relaxation under the stars, while the sport court provides endless opportunities for recreation and fitness. The crafted stone retaining walls enhance the landscape, creating a picturesque backdrop for outdoor gatherings and celebrations. The detached garage and ample driveway parking ensure that guests are always accommodated, while the expansive lot backs to serene wooded areas, offering a peaceful retreat from the hustle and bustle of everyday life. Seller has made many upgrades to this home including rewiring, chimney repairs, new front porch, remodeled bathrooms, added extra parking spaces and new windows. This residence is not just a home; it is a lifestyle. Experience the perfect blend of luxury and nature in this remarkable property, where every detail has been curated to provide an exceptional living experience.
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.
