1229 Basswood Dr, Naperville, IL 60540
4 beds · 2 baths · 2,310 sqft
Discover the charm of central Naperville living in this delightful East facing 4-bedroom, 2-bathroom split-level home, offering 2,433 square feet of space on a .23-acre lot in the sought-after Moser Highlands neighborhood. Surrounded by mature trees and lush landscaping, this home seamlessly blends comfort, tranquility, and convenience. Inside, you'll find spacious rooms with thoughtful updates, including two fully renovated bathrooms and four generously sized bedrooms. The walk out/up lower level offers an expansive family room with the potential to create a fifth bedroom, making it a versatile space for your needs. The kitchen is equipped with newer stainless steel appliances, complemented by fresh butcher block countertops and also has access to the rear yard. A hidden asset for this home is the hardwood flooring found under the carpets (visible in the closets). Recent upgrades ensure peace of mind, including newer A/C (2020) and furnace (2018), durable Hardie board siding, modern lighting, and a newer sump pump system with backup. The detached 2-car garage has been completely revamped with epoxy flooring, and the backyard features a large wooden deck, recently extended with a beautiful concrete-stamped patio. A privacy fence with solar-powered lighting completes the outdoor oasis, perfect for relaxing or entertaining. Located within the highly regarded Naperville 203 School District, this home is just minutes from Elmwood Elementary, Lincoln Junior High, and Naperville Central High School. Enjoy the convenience of Trader Joe's, Casey's Grocery, and Starbucks all within walking distance, while outdoor enthusiasts will appreciate the nearby DuPage River, Gartner Park, Springbrook Prairie, and Naperville's extensive bike trail system. With Edward Hospital less than a mile away, and downtown Naperville's vibrant dining, shopping, and entertainment scene just two miles from home, you'll have everything you need right at your fingertips. Commuting is easy with quick access to commuter trains and major highways. This home is a true gem in a prime location and is ready for you.
Source: MRED #12212722
Interest rate and monthly payment estimated based on public records.
Source: MRED #12212722
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: #12212722
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.