1 of 19
$425,000

1710 Arlington Dr, Hanover Park, IL 60133

3 beds · 2 baths · 1,977 sqft sqft

Step into this modern home, where comfort and style blend seamlessly. The updated kitchen features high-end appliances, custom cabinetry, granite countertops, and a cooktop island. The open layout flows from the kitchen to the dining room and living room, leading you to an upper deck with beautiful views of the backyard, park, and lush landscaping. With three cozy bedrooms on the main floor, including a luxurious Primary Suite, and a large updated hall bathroom, there's plenty of space for everyone. The hardwood floors and two fireplaces add a touch of elegance and warmth throughout the home. The lower level offers a versatile den that can easily serve as a 4th bedroom, perfect for guests or a growing family. There's also a separate workshop area behind the two-car garage, ideal for DIY projects or extra storage. This home has been well-maintained with a furnace installed in 2016, a new stove, fridge, washer, and dryer in 2023, and a hot water heater in 2024. Most of the windows were updated 8 years ago, with the downstairs windows in the family room and laundry room updated in 2024, ensuring energy efficiency and comfort. Located across from a park in a fantastic neighborhood, this home is close to schools and transportation, making it convenient for all your needs. The large yard is perfect for outdoor fun and relaxation. Don't miss out on this amazing opportunity to own a beautiful home in a great community. Schedule your visit today and fall in love with your new home!

Interest rate 3
5.13%
With Roam
6.5%
The seller’s mortgage rate at the time the loan was originated.
Monthly payment 3
$952
With Roam
$1,042
Reduce your monthly payments by $90 when you assume this mortgage.
You also save $16,966 in total interest paid.

$302,578
Edit

You may be able to put down less than the total down payment amount of $302,578 and have the rest of the funds financed with a 2nd mortgage from a lender. 4

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Size
1,977 sqft
Lot size
0.179 acres
Year built
1972
Type
Single Family Residence

Source: MRED #mrd12083553

Loan
Remaining term
15 years, 7 months
Rate
5.13%
Monthly P&I
$952
Remaining loan balance
$122,421

Source: Public records

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?

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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?

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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?

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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?

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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?

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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.

View all FAQs
Last updated: Oct 22, 2024 09:24 am
Listing agent: Diana Matichyn (224) 500-6491
Listing provided courtesy of: Coldwell Banker Realty (847) 222-5000
Details provided by MRED and may not match the public record.
MLS ID: #mrd12083553
Based on information submitted to the MLS GRID as of Oct 23 2024 - 04:35. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 45 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$952/mo
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