1303 ECHELON CIR # F, Matteson, IL 60443
Enjoy a low-maintenance lifestyle in the comfort of a beautiful, 2 bedroom condo (townhouse style) with additional 2 bonus room/den/office in Matteson. Built in 2008, the community is located on the corner of Lyons Dr and 207th Street, overlooking a Nature Preserve. The open concept condo (townhouse style) features sleek vinyl flooring, granite countertops, drop lighting, fireplace, modern cabinetry, fresh paint, stainless steel appliances, and in-unit washer and dryer. The spacious master bedrooms, adorned with plush carpet. Each bedroom with walk-in closets that provide ample storage space while the attached 2 car-garage offers convenience. 1/2 of the 2 car- garage has been converted into a live-able space. There are 2 additional bonus rooms. Can be used as an office/den/storage... The possibilities are endless. Echelon is less than a 5 minutes walk from the Matteson Community Center, which features a fitness center, indoor-outdoor basketball court, pool, tennis courts, soccer/football field, track field, and much more. Nearby stores including Pete's, Walmart, Meijer's, Home-depot, Menards. There are two Metra (Electric line) train stops less than seven minutes away. You and your furry friends can enjoy nice walks around the on-site walking path and the beautifully landscaped fully maintained by the association. The association takes care of snow removal. Echelon Condominium is a townhome style community managed by Bay Properties, located in Cook County, and the 60443 ZIP Code. Unique Features * Community Walking Trails * Oversized Master Bedroom * Attached Private Garage Parking * In-Home Washer & Dryer * Fireplace * Attached 2 Car Garages * 2 bonus rooms/office space * Private Entry * Vaulted Ceilings * Open-Concept Living Areas * Private Decks * 24/7 Emergency Maintenance * Luxurious Vinyl Plank Flooring * Carpet in Master Bedroom * Modern Cabinetry * Stainless Steel Appliances
You may be able to put down less than the total down payment amount of $82,256 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #mrd12124571