Nestled in the prestigious St. Charles community of Gleneagles South, this exquisite 4-bedroom, 3.5-bathroom residence embodies the perfect blend of contemporary elegance and timeless charm. Built in 2016, this detached Colonial-style home showcases a stunning brick front and vinyl siding, creating a warm and inviting curb appeal that welcomes you from the moment you arrive with custom landscapes and outdoor theatre for entertaining. Step inside to discover a spacious interior adorned with solid hardwood flooring that flows seamlessly throughout the main and upper living areas. The heart of the home is the gourmet kitchen, featuring a generous island, a butler's pantry, and an efficient kitchenette, perfect for both casual dining and entertaining. Recessed lighting and skylights illuminate the space, enhancing the inviting atmosphere. The family room, conveniently located off the kitchen, is ideal for cozy gatherings, while the formal dining room sets the stage for elegant dinner parties. Retreat to the luxurious primary suite, where relaxation awaits. The en-suite bathroom boasts a jetted tub, a walk-in shower, bidet, and dual vanities, providing a spa-like experience in the comfort of your own home in the split level owners suite. Each additional bedroom offers ample space and comfort, ensuring everyone has their own sanctuary. The partially finished basement features a daylight design with a walkout level, providing endless possibilities for additional living space or recreation. With windows that invite natural light, this area can easily be transformed into a home theater, gym, or playroom. Enjoy the convenience of an upper-floor laundry room, and take advantage of the attached oversized garage with inside access and epoxy floors, making daily life a breeze. The property is equipped with modern amenities, including ceiling fans for comfort and a sprinkler system for easy maintenance of the lush surroundings. Outside, the 0.22-acre lot offers a serene setting, perfect for outdoor gatherings or quiet evenings under the stars. The driveway provides ample parking for guests, while the built-in garage ensures your vehicles are protected. This home is not just a residence; it's a lifestyle. Experience the luxury of modern living in a community that values comfort, elegance, and convenience. Don't miss the opportunity to make this exceptional property your own
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.
