Spacious 4 bedroom, 4 bath home with full finished basement tucked away on a cul-de-sac in Shiloh’s Eagles Landing subdivision! With 3,400 sq ft of living space, this home offers the space, layout, and flexibility that can be so hard to find. The cul-de-sac setting gives this home a quieter feel, while still keeping you close to everything Shiloh and O’Fallon have to offer. The main level features a living room with a bay window, wood-burning fireplace, and tons of natural light. The kitchen, breakfast nook, and living room have an easy open flow for everyday living, while the formal dining room, flex room, and finished basement give you plenty of room for separation when you want it. The kitchen offers a center island and pantry, and the flex room works perfectly as an office, playroom, or additional sitting area. Upstairs you will find all 4 bedrooms, keeping everyone together on one level. The large primary suite has its own bay window, walk-in closet, and spacious ensuite with double vanity, soaking tub, and separate shower. The three additional bedrooms are all larger than average and include closet systems, giving everyone usable space without feeling cramped. The full finished basement has a half bath and adds even more room to spread out. There is enough space for a family room, rec room, game area, office, non-conforming bedroom or just a little separation when needed. Outside you will love the fenced backyard, patio space, generous .41 acre lot, and large 3-car garage. Neighborhood amenities include a clubhouse and community pool. Located in the highly sought-after Shiloh Village School District and O’Fallon High School. Enjoy easy access to shopping, dining, parks, and interstate access. This location is especially convenient for anyone wanting to be close to Scott AFB, with the base just about 10 minutes away. Possible VA loan assumption at 3% interest rate for qualified VA buyer. Ask your agent for more details!
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.
