1131 THATCHER AVE, River Forest, IL 60305
A stunning, updated, and expanded home located in the Keystone Triangle section of River Forest. Set on an oversize 75x226' lot with year-round scenic views of Thatcher Woods. The main floor boasts an open living room with a stunning arched carved marble wood-burning fireplace, a bright sun room ideal for a home office or play area, and a separate dining room. The seamless flow between the living and dining rooms leads to a screened-in front porch, perfect for hosting gatherings or enjoying peaceful mornings with a cup of coffee. The beautiful addition includes an open eat-in kitchen with Maple cabinets, island, granite counter tops, stainless steel appliances, a walk-in pantry, and custom banquette seating overlooking the gorgeous backyard. The new primary suite features an attached office/sitting room, a spacious walk-in closet, and a luxurious en-suite bath with heated natural stone tile and a large walk-in shower. The fully finished lower level offers a family room, a finished laundry room, and ample storage space. Recent updates include tear off roof 2024, sump pump 2024, rebuilt both, front and rear exterior staircases 2022. A fully fenced yard, replacement windows and mechanical systems. Located in the heart of the Keystone Triangle, where residents enjoy block parties, progressive dinners, and holiday festivities!
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: #mrd12135328