10005 S KOSTNER AVE, Oak Lawn, IL 60453
Welcome to 10005 S Kostner Avenue in Oak Lawn - a charming split-level, solid brick home! This one is a standout with many thoughtful updates. Here's a quick rundown of what makes it special. Gorgeous brick archways separate the main living space from the kitchen. Step through them and you'll find brand new stainless kitchen appliances. Fresh paint can be found in every room, using Sherwin-Williams' color of the year, "Upward," giving a modern look. Hardwood flooring is featured on the main level, adding warmth and elegance. Wood laminate flooring is present throughout the rest of the home, including all three second floor bedrooms, for durability and ease of maintenance. The finished lower level comes with a bar, fireplace, and second full bathroom-great for entertaining or relaxation. Zoned radiant heating provides efficiency, and the boiler is 11 years young, installed in 2013. The water heater is new. A dedicated laundry room is also on the lower level and includes a sink basin and extra space for shelving, if you desire to fill the space. The yard is fully fenced for both safety and privacy. And last but certainly not least, the huge 2.5 car garage includes an attached porch which will be perfect when having get togethers at your new home or just relaxing by yourself. Main roof is 7 years old. Garage roof is brand new. Many additional small updates were made throughout this home in preparation for selling. The location is ideal with Patrick Sullivan Park just across the street, hospital and shopping are one mile away, and multiple highways and public transit are minutes away. You won't find a better home for the price!
You may be able to put down less than the total down payment amount of $134,348 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #mrd12162392