Are you looking for a Move-in-Ready Home, Freshly Painted, all-neutral, with an updated Kitchen and Baths? And oh, by the way, a Sunroom? And it's in Randall Ridge? This house has it ALL! As you enter this beautiful home, you are greeted by a two-story foyer. This house features an Open Floor Plan and is Filled with Natural Sunlight. There have been tons of upgrades in recent years! Huge eat-in Kitchen with Quartz countertops, Stainless Steel Appliances, and plenty of cabinet space (Even some fun hidden cabinets). There's a formal Living and Dining Room, a large Family room off the Kitchen, and a wonderful Sunroom/Florida room! The primary en-suite has a full Bath with a jetted tub and a separate shower, and a large walk-in closet. There are three more generous Bedrooms upstairs and an additional full Bath with dual sinks and updated tile. The Basement is partially finished with a separate Rec Room/Storage and Crawl Space awaiting your Finishing Touches to make it feel like Home. Maybe a Game Room, a Playroom, or a Workshop? The fully fenced Backyard offers outdoor entertaining space, including a cement Patio and a large 10x12 insulated Shed. Perfect for those backyard bbq's or movie nights. This neighborhood has it all! Short distance to the all-new Randall Ridge Park with Basketball Court, Baseball Field, Climbing Area, Picnic Benches, Swingset, and more. Located in the desirable Burlington School District 301. Amenities nearby: 3 Golf Courses in Elgin, many great parks, the centre of Elgin offers so many activities for people of all ages, the Gail Borden Library in Downtown Elgin, Pickleball and Tennis at Wing Park.Just minutes away from Randall Road shopping, dining, schools, parks, I-90, and Route 20, with easy access to O'Hare (35 minutes) and downtown Chicago (about an hour). Elgin has been named one of the best places to live in Illinois and the United States by U.S. News & World Report, ranking #6 in Illinois and #74 nationally on the 2026-2027 Best Places to Live list. Don't miss out on this house, there isn't another one like it!
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.
