160 E Terra Cotta Ave, Crystal Lake, IL 60014
3 beds · 2 baths · 1,340 sqft sqft
Dedicated to delivering quality service to meet the needs of agents and their clients. Welcome to this charming 3-bedroom, 2-bathroom home, offering 1,340 square feet of thoughtfully designed living space. As you enter, you'll be greeted by an open layout that connects the spacious family room to the kitchen, creating an inviting space for both everyday living and entertaining. The family room features hardwood floors and a cozy atmosphere, while the modern kitchen is equipped with updated appliances and plenty of counter space, allowing you to easily interact with guests while preparing meals. One of the standout features is the all-seasons room. Step through the sliding glass doors and discover your own indoor retreat-a beautiful inground pool that can be enjoyed year-round. Additionally, a 2-person sauna adds an extra level of relaxation. The three bedrooms are generously sized, providing ample room for family members or guests. Both full bathrooms feature modern fixtures and finishes that add a touch of elegance to the home. Hardwood floors flow throughout the space, bringing warmth and charm to every room. The attached 2-car garage offers convenience and extra storage. Located just 3 minutes from Crystal Lake's downtown area and the train station, this home also provides quick access to the nearby Crystal Lake Park District Nature Center, ideal for outdoor activities. extra: The indoor pool is available for rental on Airbnb, presenting a great opportunity for extra income.
Source: MRED #mrd12154120
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12154120
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.
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: #mrd12154120