1409 HARLEM AVE, Forest Park, IL 60130
Welcome to this charming 2-story home in the heart of Forest Park! This location is a commuter's dream with easy access to I-290, "L" Train and Bus Stop! The spacious, open layout is a haven for relaxation and entertainment. Step inside and notice the gleaming hardwood flooring that flows throughout. This space is light and bright with the natural light flowing in. The kitchen and dining area are ideal for hosting parties and provide the perfect space to entertain. Gorgeous kitchen features white shaker cabinets, Quartz countertops, gorgeous gray subway tile backsplash and stainless steel appliances with a vent hood. Convenient breakfast bar with seating for 3 is ideal for quick morning meals. Whether you are preparing a gourmet meal or preparing a quick snack, this kitchen is sure to inspire your culinary creativity! Exterior door in the kitchen leads to the covered back porch. This is the perfect spot to enjoy your morning cup of coffee or unwind in the evening after a long day. There are 4 bedrooms, plus an office, 2 full baths and a full, unfinished basement. The laundry area is located in the basement - washer & dryer stay with the home. The detached 2 car garage provides plenty of room to park your cars or use for extra storage space. There is also a gravel space next to the garage to allow for optimum parking space. New Electric Panel with 200 AMP Service, HVAC, Water Heater, Roof and Windows in 2017, Sewer Back Up System installed in 2020, Sump Pump replaced 3 years ago. This home is in a perfect location in a vibrant and walkable community, residents will delight in convenient access to transit, parks, school, shopping, dining, Rush University Medical Center and Loyola University Medical Center. Schedule your showing today!!
You may be able to put down less than the total down payment amount of $166,767 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: #mrd12131818