1300 Prairie Dr, Algonquin, IL 60102
4 beds · 3 baths · 3,925 sqft sqft
Nestled in the Glenmoor subdivision, this expanded Colonial, has great square footage and thoughtful floor plan! Covered front porch entry to greet your guests! Stepping into foyer you will love the rich hardwood floors! Large living room is ideal for entertaining a crowd and moves easily into the dining room for special celebrations! Private 1st floor den features newly installed wood floors and french doors. Bright kitchen is finished with granite countertops, center island with updated lighting, stainless appliances and sunny breakfast room that opens with newer sliding glass door leading to brick paver patio. You will LOVE the Expansive Family Room - with space for EVERYONE! Featuring a beautiful stone front, gas start fireplace, filled with windows and sliding glass door to back patio, this will be the heart of the home! Addition to home was completed in 2007 and included the expanded Family Room and Primary Suite on 2nd floor. Primary bedroom is extra large with 2 walk in closets and private full bath with 2 vanities, large shower and separate jetted tub. All bedrooms offer great closet space. Finished Basement with recreation room and play area. Utility room plus concrete crawl (where addition is) for added storage! 2 1/2 Car Garage is perfect for keeping you organized with tools and toys! NOTE ALL THE UPDATES: ROOF is 6 Months NEW and Solar Panels are OWNED providing amazing savings on electric, Hardwood Floors NEW in LR, DR & Den in 2022. NEW French Doors in Den 2022. Many of Windows in Home have been replaced in the last 8 years - including the sliding glass door in kitchen. Basement with 2 Sump Pumps (basement & 1 in the crawl). HVAC in Primary Bedroom done in 2007 with addition, HVAC for rest on home done in 2006.
Source: MRED #mrd12190369
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12190369
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.
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: #mrd12190369