11025 S Wallace St, Chicago, IL 60628
6 beds · 4 baths · 2,700 sqft sqft
To share or not to share. That is...entirely up to you in this dreamy home perfect for entertaining or just plain enjoying! You have options in this single-family beauty with a footprint that you can choose to keep all to yourself, spread out with your immediate family or accommodate extended family friends, etc. There are 2 entry doors leading to the main and 2 additional entry doors in the basement - with a dedicated side entrance. On the main 2 levels you get 4 bedrooms, 3 bathrooms, laundry, a pantry in the kitchen, an upstairs lounge space and more. The open concept layout flows from the living room into the dining room that share a beautiful feature wall only to be greeted by your beautiful custom 2-toned kitchen space equipped with a 2-tiered island, quartz countertops and a beautiful backsplash. Stepping into your basement you'll find a wet bar/kitchenette, a family room, an additional dining space should you choose, 2 more bedrooms a bathroom, another laundry room and lounge area. Yes, you read that right! There are 2 laundry rooms, 6 bedrooms, 4 bathrooms. Oh, and yes. Yes, there is a master en suite with a walk-in closet space awaiting your customization to fit your specific needs just for you on the main floor. In addition, each level has a cozy sitting area for relaxing or entertaining in addition to there being a living and family room. This gem has been updated with warm, elegant finishes and conversation starting design elements like the various feature walls throughout, gorgeous tile backsplashes, beautiful lighting and more. This isn't your average updated listing. It was designed to be able to complement various styles and decor while standing apart in the process. It has showstopping, custom elements we think you're going to love and want make home! Survey, Termite, Title and Home Inspection items complete.
Source: MRED #12106529
Interest rate and monthly payment estimated based on public records.
Source: MRED #12106529
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: #12106529
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.