Wow! Waterfront AND a Walkout basement in Wedgewood! Beautiful 4 Bed, 4 Bath home with Loft/Den! Tons of space, great floorplan, 3 car garage, deck and 2 patio areas abound! This charming home provides so much for a new owner! Amazing location, in the center of Crystal Lake, in the coveted neighborhood with access to trails and spectacular serene wildlife waterfront views. Lovely facade with brick, cedar and stucco exterior and impressive entry! Large foyer opens to great layout with formal living and dining areas in the front of home. Bright and magnificent family room with 2 story ceilings, tons of windows and warm fireplace is centrally located in the home and leads to a well appointed kitchen. Kitchen offers pantry, island and breakfast area that opens to a large deck with stunning water views of nature and sunsets. Finishing off the main level includes a rare full bath, den or 4th bedroom and large laundry. The basement offers huge rec areas for all the games you want! A second kitchen and bar is perfect for entertaining a large group. Take in views of the beautiful backyard and walk out onto a brick patio for more entertaining space! Additionally, a 5th bedroom/gym option is located in the basement with full bath. Storage is also found in the basement-plenty of room for all the extras! Second floor provides a loft for an office or library, 2 bedrooms with shared bath and a primary suite of your dreams! Overlooking water views, this suite leads to a completely luxurious bath with dual vanity, large shower and soaker tub! The walk-in closet is well organized and perfect for all your belongings! Tons of upgrades such as carpet, paint, bathroom, mechanicals and appliances! Well cared for and well loved home. Pride of ownership. Move in and enjoy the summer in paradise! Close to parks, Main Beach, Crystal Lake Country Club and Dole Farmers Market and Mansion.
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.
