1090 N Elma Ave, Elgin, IL 60120
4 beds · 4 baths · sqft
This stunning home in Cobblers Crossing has been beautifully updated and offers 4 bedrooms, 2 full baths, 2 half baths, a full finished basement, and additional crawl space storage. The craftsmanship throughout the property is evident, with custom tilework enhancing the entire home and updated floor-to-ceiling windows and skylights providing an abundance of natural light. The main living areas boast hardwood flooring that flows seamlessly from the kitchen into the family room. The kitchen has been thoughtfully updated with 42-inch cabinets featuring oversized pull-out drawers and soft closures, dual islands, granite countertops, a stylish tile backsplash, stainless steel appliances, and a convenient pantry. The adjacent sunroom, perfect for dining or relaxing, showcases a large bay window overlooking the backyard. The family room is both inviting and functional, with vaulted ceilings, a mounted TV over the cozy gas log fireplace, and surround sound wiring throughout the home. The master bedroom also features vaulted ceilings, a walk-in closet, and a luxurious en-suite bathroom. The master bath is truly spa-like, with high-end finishes including custom glass tile, hand-polished stone, glass vessel sinks, and a hydro-massage tub with lights, multiple jets, a heater, and a self-cleaning sanitation system. Enjoy watching a favorite movie on the TV embedded in a specialty two-way mirror, all while listening through the surround sound system. For added comfort, a heat fan with a light ensures the bathroom stays cozy. The updated hall bath features high-end marble tile and a rare Blue Eyes Stone vanity, along with several built-in niches for added functionality. A second-level laundry area adds convenience. On the main floor, there's a versatile office space that could easily be transformed into a mudroom, playroom, or classroom. The fully finished basement offers a half bath, a custom-designed wet bar, dimmable lighting for movie nights, and wiring for surround sound. There's also a dedicated workout room with newer laminate flooring and a storage room with access to the crawl space for additional storage. Step outside to the fully fenced backyard, which is perfect for entertaining or relaxing. The space includes a convenient shed, a large patio area, and a new hardtop gazebo that provides shade on sunny days. With so many updates already completed, this home is truly move-in ready.
Source: MRED #12259049
Interest rate and monthly payment estimated based on public records.
Source: MRED #12259049
Source: Public records
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: #12259049
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