1272 Caribou Ln, Hoffman Estates, IL 60192
5 beds · 4 baths · 3,513 sqft
Discover 1272 Caribou Lane-an exquisite residence nestled in the desirable Hunters Ridge subdivision of Hoffman Estates. With 5 spacious bedrooms, a dedicated office, 3.5 bathrooms, and a suite of modern upgrades, this home seamlessly blends style, functionality, and comfort to meet the needs of today's discerning homeowner. The well-appointed kitchen is a chef's delight, featuring a brand-new double oven and dishwasher (installed February 2024) and ample space for both casual and formal dining. Upstairs, the luxurious master suite offers a true retreat, complete with two oversized closets and a spa-inspired bathroom, featuring an extra-large soaking tub for ultimate relaxation. The second floor also includes 5 bedrooms, two of which enjoy private ensuite bathrooms-a thoughtful design that provides enhanced comfort and privacy for family or guests. Designed with efficiency and future-ready features, this home includes solar panels, a 3-year-old furnace and air conditioner, two water heaters, and a roof updated in 2020. The family room exudes warmth and charm with a gas-start, wood-burning fireplace, while the expansive backyard is beautifully landscaped, creating an ideal setting for outdoor gatherings and peaceful relaxation. The property extends an additional 20 feet into a natural woodland area, ensuring privacy with a scenic buffer owned by the park district-providing an unobstructed view and permanent protection from future development. The unfinished basement, complete with roughed-in plumbing for a potential bathroom, offers limitless potential to expand, with space for a home theater, gym, or custom living area tailored to your needs. A mudroom with plumbing for an additional laundry area adds further convenience. Located close to top-rated schools, parks, and shopping, this move-in-ready home offers an exceptional lifestyle in a welcoming community. Don't miss the chance to make this rare find your own-schedule a private tour today!
Source: MRED #mrd12206893
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12206893
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: #mrd12206893
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.