Welcome to your dream condo! This beautiful first-floor unit features two bedrooms and two full bathrooms, offering an exceptional living experience in a well-maintained elevator building. With only two owners since its construction, this home is ready for its next chapter. Enjoy the expansive layout of this open floor plan with a living area, that connects you to a dining space, office space, anything more that may fit your living needs. The cozy living room features a gas fireplace proving warmth and ambiance with two patio doors open to you private patio space with courtyard views. The kitchen is slightly oversized, equipped with a newer microwave and a **brand-new dishwasher**, making meal prep a breeze. Ample cabinet space ensures plenty of room for all your cooking essentials (Other units have opened up the home with removing this wall). There is a large amount of closet space and laundry area equipped to store all your cleaning supplies. Retreat to the spacious master bedroom, which includes a luxurious shower enclosure in the ensuite bathroom, providing a private oasis for relaxation. Enjoy the convenience of one designated garage space (#11), ensuring secure parking right at your doorstep. Located close to the Metra, commuting is a breeze, allowing you to enjoy city life without the hassle. Take advantage of nearby walking paths, perfect for leisurely strolls or active lifestyles. A variety of local restaurants and shops are just minutes away, making dining out or grocery shopping both convenient and enjoyable. This oversized condo is more than just a home; it's a lifestyle choice in a fantastic location. The current owner is selling due to a job relocation, presenting a rare opportunity for you to make this exceptional property your own. Don't miss out on this incredible opportunity! Schedule a viewing today and experience all that this beautiful condo has to offer.
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.
