1000 Joel Ln, Genoa, IL 60135
3 beds · 3 baths · 2,006 sqft
Welcome to your dream home! This stunning open concept ranch-style residence offers the perfect blend of luxury and comfort. Featuring three spacious bedrooms on the main floor and an additional bedroom in the beautifully finished basement, this home provides ample space for your family and guests. Enjoy the convenience of three full bathrooms, each designed with elegant fixtures and finishes such as custom closet organizers. The main living area boasts hardwood flooring, complemented by decorative tray ceilings that add a touch of sophistication. The luxuriously styled kitchen is a chef's paradise, equipped with upgraded Viking appliances, a double oven, soft-closed cabinets, granite countertops, and a walk-in pantry. The elaborate tile work and stylish design make this kitchen a true centerpiece of the home. The finished basement is a versatile space that includes a bedroom, office, and a Rec room complete with a pool table and a wet bar, perfect for entertaining. The basement flooring is upgraded Lifeproof, providing style and long-term durability. The three-car heated garage provides plenty of room for your vehicles and additional storage. Don't miss the chance to make this exquisite home yours! Schedule a showing today!
Source: MRED #mrd12169757
Source: MRED #mrd12169757
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #mrd12169757
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.