Nestled on a picturesque tree-lined street in the heart of Little Italy/Tri-Taylor, this beautifully updated historic brick single-family home seamlessly blends timeless Chicago character with modern comfort. Originally built in the 1880s, the residence offers approximately 2,769 square feet of thoughtfully designed living space with 3 bedrooms plus a den, 2.1 bathrooms, and an abundance of natural light throughout. Multiple outdoor spaces elevate the home, including a private backyard with grass, a brick paver patio with hot tub, and a balcony off the primary suite. The inviting interior showcases generous room sizes, soaring ceilings, exposed brick, hardwood flooring, and charming architectural details that pay homage to the home's rich history. The spacious living and dining areas provide the perfect setting for both everyday living and entertaining, while the updated chef's kitchen offers ample cabinetry, stainless steel appliances, and a massive island with room for seating. The main level also features an updated full bath and a custom-built home office complete with extensive cabinetry, creating the ideal workspace for today's lifestyle. Upstairs, the well-appointed bedrooms provide peaceful retreats, including a spacious primary suite with a spa-inspired ensuite bath featuring custom flooring, a soaking tub, and dual vanity. The upper level also includes a charming and convenient laundry room located just off the primary suite, two additional spacious bedrooms, and a full bath. With multiple levels of living space, the flexible floor plan offers endless options to fit your needs. The unfinished basement provides excellent storage or additional space for future use. Step outside to enjoy a private urban oasis ideal for relaxing, gardening, or hosting summer gatherings. The classic brick exterior, mature landscaping, and historic streetscape create exceptional curb appeal rarely found in the city. Located just steps from Arrigo Park and minutes from the Illinois Medical District, UIC, Rush University Medical Center, and downtown Chicago, this home offers unmatched convenience. Enjoy easy access to restaurants, cafes, public transportation, major expressways, and all the amenities that make Little Italy one of Chicago's most sought-after neighborhoods. A rare opportunity to own a piece of Chicago history in an unbeatable location. Explore the property in 3D-click the 3D button to take a virtual tour and walk through every detail.
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.
