Check out this beautiful 3-bedroom, 2.5-bathroom townhome with a finished basement in desirable Tinley Park! Step into the welcoming foyer and be greeted by the open-concept main level, complete with a convenient coat closet. The impressive two-story living room features soaring ceilings, a cozy fireplace, hardwood floors, and an abundance of windows that fill the space with natural light. The kitchen offers stainless steel appliances, granite countertops, a pantry closet, and LVP flooring. The adjacent dining room provides access to the private deck through a sliding glass door, making it the perfect space for indoor and outdoor entertaining. A powder room with a linen closet, access to the basement, and entry to the attached garage complete the main level. Upstairs, the spacious primary suite boasts vaulted ceilings, a large walk-in closet with custom built-ins, and a private ensuite featuring a stand-up shower, jetted Jacuzzi tub, and skylight. Two additional bedrooms, a full hall bathroom with a tub/shower combination, vanity, and linen closet, plus a convenient second-floor laundry room with a stainless steel Samsung washer and dryer, utility sink, and cabinetry complete the upper level. The finished basement offers additional living space that's perfect for entertaining, a home theater, playroom, home office, or gym, along with multiple storage closets. The oversized 2.5-car attached garage includes built-in shelving for even more storage. Conveniently located near expressway access, the Metra train station, shopping, dining, and all that vibrant Downtown Tinley Park has to offer, this home is truly move-in ready!
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.
