1508 N Karlov Ave, Chicago, IL 60651
3 beds · 2 baths · 1,812 sqft
Completely Renovated 3-Bedroom, 2-Bathroom Two-Story Home with Finished Basement in Humboldt Park Discover modern living in this beautifully renovated home, located in the heart of Humboldt Park. This 3-bedroom, 2-bathroom gem offers contemporary style and thoughtful design, perfect for both relaxation and entertainment, with the added benefit of being steps away from Humboldt Park, where you can enjoy picnics, outdoor activities, and a perfect place for kids to play. Step inside to an open-concept living and dining room, featuring gleaming hardwood floors, recessed lighting, and new windows with Faux Wood Blinds that flood the space with natural light. The main level includes a sleek guest bathroom with a luxurious rainfall shower. The gourmet kitchen is designed for the modern chef, offering plenty of cabinet space, quartz countertops, and a striking blue-tiled backsplash. Outfitted with stainless steel appliances, a wine rack, and sleek porcelain floors, this kitchen is perfect for daily living or hosting gatherings. Upstairs, you'll find three spacious bedrooms with ceiling fans, and a beautifully updated full bathroom featuring a high-tech Bluetooth recessed light. The pull-down attic provides access to a spacious loft, ideal for additional storage or potential expansion. The finished basement offers flexibility, making it perfect for a rec room or home office, and comes complete with a high-efficiency furnace and new hot water heater (2022). Outside, enjoy the fenced-in yard, ideal for dogs and outdoor entertaining, along with a back deck and a newly built 2-car garage (2022). The home also features new vinyl siding and a new roof, providing peace of mind and low maintenance. Beyond the home, you'll love the vibrant neighborhood, with great restaurants and exciting nightlife just around the corner, offering plenty of options for dining and entertainment. Plus, you're only a short walk from the scenic Humboldt Park, perfect for enjoying the outdoors. This home is truly a rare find in a sought-after location. Book your showing today to make it yours!
Source: MRED #12208435
Interest rate and monthly payment estimated based on public records.
Source: MRED #12208435
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: #12208435
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.