Tucked away on a peaceful street in the heart of Elmhurst, this thoughtfully reimagined Tudor seamlessly combines timeless charm with modern luxury. Step through the original arched front door and into a sunlit main level that immediately captivates. The space is an inviting blend of neutral tones, rich hardwood floors, designer lighting, and a sleek fireplace with a freshly updated mantel. The open-concept kitchen, dining, and bar area rivals brand-new construction, featuring ceiling-height white cabinetry, high-end appliances-including a 6-burner Thermador range, quartz countertops, and a panel-ready dishwasher. The kitchen flows effortlessly into a wet bar and a stunning wall of windows that frame the professionally landscaped, fenced backyard. An updated powder room rounds out the main floor. Upstairs, you'll discover a rare primary suite with an en suite bath and a spacious walk-in closet. Two additional generously sized bedrooms, a hall bath, and a linen closet complete the upper level. The finished basement offers even more versatility, with a large recreation room, a laundry room, and ample storage. There's also an additional room with an egress window and an attached half bath-perfect as a bedroom, home office, or guest space (previous owners used it for an au pair). The current owners have made significant updates, including replacing the A/C units, enhancing the boiler, and adding thoughtful touches like new window treatments, landscape lighting, interior/exterior security features, and a 220v EV hook-up on the back of the house (by grill). They've also refreshed the powder room and fireplace mantel for a modern touch. With top-rated schools, parks, museums, the train station, and an abundance of dining and shopping just blocks away, this location is second to none. Don't miss the perfect blend of classic elegance and today's conveniences-this home truly has it all!
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.
