1601 THORNWOOD ST, Wheaton, IL 60189
Welcome to 1601 Thornwood Dr, a spacious 4BR/2.5BA townhome located in the desirable Streams Villa neighborhood of Wheaton, Illinois. Nestled in a quiet, established community with mature landscaping, this home offers both charm and convenience. Enjoy the peaceful surroundings with a private front garden and porch, as well as a large paver patio in the back-perfect for outdoor relaxation. Inside, you'll find a welcoming floorplan with hardwood floors, white trim detail, and plenty of natural light. The living room features a cozy gas log fireplace, and the family room provides additional space for gatherings. The eat-in kitchen is equipped with solid surface countertops and a convenient pantry, while the formal dining room is perfect for entertaining. The first floor also includes a home office and a powder room. Upstairs, three generous bedrooms await, including a primary bedroom with a private bath. The full finished basement adds even more living space, complete with a rec room featuring a wet bar, a second fireplace, a fourth bedroom, and a laundry room. Recent updates include a new roof in 2023, a new AC in 2022, a new furnace in 2021, and newer windows, ensuring peace of mind for years to come. This home is ideally located within walking distance to Atten Park, just minutes from Cantigny, and close to the prairie path and preserves. It's also only 10 minutes from the Wheaton train station and conveniently close to shops, restaurants, and the hospital. Don't miss the opportunity to own this beautiful townhome at 1601 Thornwood Dr-schedule a showing today!
You may be able to put down less than the total down payment amount of $174,550 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: #mrd12149949
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.