145 S Grove Ave, Elgin, IL 60120
2 beds · 3 baths · 1,875 sqft sqft
Welcome to River Park Place! You will love this Quality Built Luxury and Updated, All Brick 2 Bedroom, 2.1 Bath, 2 Car Garage Walk-Up Home in Downtown Elgin. This Premier Location overlooks the Spectacular Views of Festival Park and the Fox River. The Open Floor Plan is loaded with Upgrades. The Rooftop Deck is NEWLY Rebuilt (2024), along with NEW Roof (2024), NEW Engineered, Wide Plank, Cherry Wood Flooring throughout the Living & Dining Room(2024) and NEW Carpeting in the Second Bedroom (2024). This home has 10 Foot Ceilings, Transom Windows, Wrought Iron Spindles along all Stairways, Oversized White Trim, Six Panel Doors with Bronzed Oil Hardware, Newly Painted throughout the home, Over-Sized Ceramic Tile Flooring in the Foyer, Kitchen & Bathrooms, 2" White Faux Wood Blinds throughout, along with a Speaker System throughout every level, Ring Doorbell & Security System. When entering the home on the 1st Floor, the Spacious Family Room has a Wall of Windows, Recessed Lighting, Wet Bar, Cherry Cabinetry and Built-In Beverage Refrigerator. It provides the Flexibility of this being a Bonus Room, as it can be a Family Room, Office or Workout Room. The Second Floor offers an Open Floor Plan with A Spacious and Bright Living Area, with Bayed out Wall of Windows and Ceiling Fan, that Flows into the Dining Room with Spacious Serving or Bar Area with 2 Built-In Wine Refrigerators. The Spacious Kitchen has 42" Cherry Cabinetry with Crown Molding, Granite Counters, Decorative Tile Backsplash, Stainless Steel Appliances, Breakfast Bar, Large Island with Pendant Lighting, Recessed Lighting, Eating Area and Sliding Glass Doors out to a Balcony (Perfect for Grilling). The Primary Bedroom has a Wall of Windows, Ceiling Fan & a Large Walk-In Closet with Closet Organizers. Double Doors Lead into the Private Bathroom with Dual Sink Vanity, Cherry Cabinetry, Granite Counters, Soaking Tub and Gorgeous Updated, Shower with Decorative Tile. The Second Bedroom Ensuite also has a Private Full Bath, Walk-In Closet & Ceiling Fan. The Convenience of Laundry also completes this Level. Enjoy the Dramatic Views of the Newly Re-Built Rooftop Deck that provides Privacy and the Convenience of Extra Outdoor Space. This Spacious Rooftop Deck Overlooks Festival Park, which is a Riverfront Recreation Area with Playgrounds, Picnic Areas, Fishing Pier, Spray Fountains, Splash Pad, Relaxation Garden & Hiking Trails. River Park Place is a Courtyard Community with Well Kept Grounds that offers the Convenience of Walking to Everything; Elgin's Entertainment Area, Museums, Dining District, Restaurants, Stores, Trains, Bus Stations and Easy Access to I-90 Highway. City Living in the Suburbs at it's Best! Investor Friendly too.
Source: MRED #12191328
Source: MRED #12191328
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: #12191328
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.