127 Howe Ter, Barrington, IL 60010
4 beds · 2 baths · 3,000 sqft
Welcome to this stunning 4-bedroom, 2-bath split-level home with a beautifully open floor plan on the main level, situated on a spacious 1.22-acre lot adorned with mature trees. This meticulously updated property offers hardwood floors throughout the large, sun-filled living room and an expansive kitchen featuring custom cabinetry, granite countertops, stainless steel appliances, and a generous island with seating. The upstairs hosts three bedrooms and a full bath, while the walkout lower level includes a cozy family room with a fireplace, a fourth bedroom, a second full bath, and an incredible sunroom with an additional fireplace that opens to a two level patio. The finished sub-basement offers even more living space, with a bonus room, laundry, and ample storage. The home also boasts a unique dog room/laundry area that opens to a fenced dog run, perfect for pet lovers. Too many upgrades in the past 4 years to name, but they include a new well tank, bonus room addition, whole house filtration system, full bath remodel, wooden fence, and pool, making this home truly move-in ready. Don't miss out on this one-of-a-kind property!
Source: MRED #mrd12187701
Source: MRED #mrd12187701
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: #mrd12187701
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.