1225 W Morse Ave Apt 510 # 510, Chicago, IL 60626
2 beds · 2 baths · 1,400 sqft sqft
Welcome to your dream Top floor Penthouse 2-bedroom, 2-bath condo at North Beach Lofts, perfectly situated in the heart of Rogers Park! This gorgeous open-plan loft features soaring ceilings and spacious bedrooms with generous closet space. You'll love the luxurious en suite primary bathroom and the private outdoor balcony-a perfect spot for some peaceful relaxation. This bright and inviting unit is filled with natural light, facing east to brighten your mornings. The pet-friendly building offers fantastic amenities, including an elevator, exercise facility, secure entry, a large storage area, and a heated attached garage spot-all included in the price! Recent updates, like a stainless steel stove, microwave and dishwasher, plus a hot water tank from 2021, add to the appeal. Best of all, you're just blocks from the beautiful lakefront, Morse Red Line station, and the Rogers Park Metra stop, with an array of shops and restaurants right at your doorstep. Professionally managed and investor-friendly, this condo is an amazing opportunity for modern living in a vibrant community. Come see it for yourself! Motivated Seller!
Source: MRED #mrd12190932
Source: MRED #mrd12190932
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.
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: #mrd12190932