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1207 Parkview Dr

Elgin, IL 60123

5 beds · 4 baths · 3,500 sqft

$549,000

$2,281/mo with 3% Express Financing

$2,803/mo with 7% bank financing

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About this home

This exceptional home combines style, comfort, and functionality in a way that's truly special. Don't miss the opportunity to make it yours. Contact us today to schedule a viewing and experience all that this incredible property has to offer!" 5 bedroom 3.5 Bath "Retreat to the luxurious master suite, your personal oasis of relaxation. The master bedroom is generously sized and includes a spa-like with en-suite bathroom with separate shower, and dual vanities." With four additional bedrooms, there's plenty of space for family, guests, or even a home office. The other bathrooms are beautifully appointed and offer both convenience and style. "Partially Finish basement with Enjoy cozy evenings in the family room, with fire place open concept from kitchen a versatile space perfect for movie nights or casual gatherings. It's an ideal spot for making memories with loved ones." Step outside to your private backyard retreat with a huge deck .This space is perfect for summer barbecues, relaxing under the stars, or just enjoying the fresh air. Large lot size "Thanks for joining us on this tour. We look forward to helping you find your dream home!" (SELLER CLOSING COST CREDIT OFFER)

Source: MRED #mrd12143847

3,500 sqft
0.6226 acres
Single Family
Built in --

Neighborhood
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FAQs

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.

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.

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.

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.

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 “Save search” 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.

When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.

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Last updated: Apr 14, 2025 07:59 pm
Listing provided courtesy of: Master Partners Realty (847) 324-6400
Details provided by MRED and may not match the public record.
MLS ID: #mrd12143847
Based on information submitted to the MLS GRID as of Jul 27 2025 - 21:04. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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