1405 Palm Dr, Wheeling, IL 60090
4 beds · 2 baths · sqft
Massive 4 bedroom, 2 bath raised ranch styled property is ready for new owners. Meticulously maintained and renovated over the past few years. Recent updates include HVAC and roof (2021), Tankless water heater (2022), full kitchen remodel in 2021, upstairs bathroom. The list goes on and on. Main level redesigned with kitchen walls removed with open floorplan with the living room/dining room and kitchen. 42" Antique white soft close cabinets/detailed tile backsplash/custom granite countertops/black stainless appliances/inset sink with gooseneck faucet & 5x4 foot center island! Spacious living room for entertainment & offers great views from the bow window. 3 traditional bedrooms on the main level including primary 14x11 bedroom w/closet organizer. All bedrooms have ceiling fans. The entire home has new lighting. Newly designed bannister that includes wrought iron spindles. LPV flooring was installed with perfection! Lower level includes family room area w/bonus custom side bar area complete with sink! Full bath with standup shower. 4th bedroom is massive & has step-in closet. Full, drain tile system was installed prior to current owner w/new sump pump. Laundry area offers additional room for storage & offers a walkout to the yard. Wow, what a yard it is. Fully fenced w/pivoted fence panel that 2nds as a table to party with the neighbors. Paver stone patio is perfect for those warm days & comes complete with secured pergola. Composite deck off the rear of the home with aluminum railing. 2 1/2 detached car garage offers enough storage like a cargo hold in a 747!
Source: MRED #12258510
Interest rate and monthly payment estimated based on public records.
Source: MRED #12258510
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: #12258510
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.