Welcome to this gorgeous 4 Bed, 3 1/2 Bath, plus Office in popular Cedar Ridge Estates. Perfectly positioned on a large corner lot backing to a serene community pond, this home offers both privacy and picturesque views. From the moment you arrive, you'll appreciate the inviting front patio and charming front stoop, ideal for morning coffee or evening unwinding. Step inside to a grand two-story foyer, flanked by elegant living and dining rooms. The open floor plan offers a seamless flow that is perfect for both everyday living and entertaining. At the heart of the home is a spacious kitchen featuring a large center island with seating, a sunny eating area, stainless steel appliances, and abundant cabinetry. The kitchen opens to a dramatic two-story family room with striking stone fireplace and loads of natural light, creating a warm and inviting gathering space. A main floor office is also ideal as a playroom and adds flexibility to suit today's lifestyle. Upstairs, the spacious primary suite offers a private retreat with a luxurious en-suite bath and two generous walk-in closets. Three additional bedrooms provide excellent space, including a Jack & Jill bath and a private junior en-suite, making this home truly designed for comfort and convenience. The finished basement expands your living space, perfect for entertaining and relaxing. Step outside to enjoy the brick paver patio in the backyard, where you can take in peaceful pond views and the surrounding open green space. Additional highlights include a spacious 3-car attached garage, main floor laundry and double staircase to upstairs. 2024: New washer and dryer. 2023: Basement finished, new main floor light fixtures, new microwave, new oven. 2022: New air conditioner. 2020: New front patio, new front stoop. 2019: New air conditioner, new blinds throughout, updated stairway balusters. 2018: New roof, new flooring throughout, new kitchen cabinets. Ideally located near shopping, dining, transportation, and scenic forest preserves, this home offers the perfect blend of space, updates, and setting.
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.
