13121 Steeplechase Dr, New Lenox, IL 60451
5 beds · 8 baths · 9,600 sqft
Nestled in a prestigious neighborhood, this estate offers an unparalleled living experience with luxurious amenities and modern comforts. Soaring 10' ceilings, with 15' vaulted sections in the upstairs bedrooms, create an airy and grand atmosphere throughout. This home boasts four spacious bedrooms with ensuite baths and walk in closets, including a grand main bedroom with deck access, dual walk in closets, and a spa-like bathroom with a large jacuzzi tub and dual access walk in shower. The main floor features a gourmet kitchen, the heart of the home, with sleek quartz countertops, stainless steel appliances, full size refrigerator/freezer, double oven, wine fridge, and a large island, perfect for culinary enthusiasts and entertaining. A formal dining room with a butler's pantry flows seamlessly from the kitchen, while a cozy den with a gas fireplace provides a warm and inviting space for relaxation. Upstairs, a large bonus room offers versatility for a home office, media center, or playroom, and a seating area/ landing adds to the homes spacious feel. For added convenience , the home features two full-sized laundry rooms, one upstairs, and one on the main floor, simplifying daily chores. Two attached two car garages, each pre-wired with level 2 EV charger hookups, cater to modern transportation needs. The fully finished basement provides a dedicated gym, a professional-grade theater, a full bar, and a wine cellar, perfect for entertaining. Mechanical features include four HVAC units, three tankless water heaters, and whole-house wired internet system. Outside, a massive deck with a metal awning and pergolas overlooks professionally landscaped grounds with an in-ground sprinkler system, creating an ideal setting for relaxation and outdoor gatherings. This home is a masterpiece of design and technology, offering a lifestyle of luxury.
Source: MRED #12320646
Source: MRED #12320646
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.