173 Pomeroy Ave, Crystal Lake, IL 60014
3 beds · 3 baths · 3,073 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Celebrated Crystal Lake-A piece of history with small-town charm and big-city convenience. Step into the story of Crystal Lake's first library, where history meets modern living. Originally established in 1914, this enchanting two-story farmhouse sits on a tree-lined street in downtown Crystal Lake, offering a rare opportunity to own a piece of the town's heritage. Once home to the town's first library, this residence is deeply tied to Crystal Lake's legacy, with H.A. Dodge himself coining the town's beloved slogan: *"A Good Place to Live."* Nestled on a spacious 0.62-acre corner lot, the home features expansive front and side yards, a private fenced backyard, and a concrete patio, ideal for relaxing or entertaining. With a prime downtown location, residents enjoy unmatched accessibility, including the METRA commuter train for quick access to Chicago, as well as a vibrant downtown filled with boutiques, restaurants, and entertainment. Outdoor enthusiasts will love the nearby Three Oaks Recreation Area, two beaches, and scenic parks perfect for hiking, fishing, and picnicking. The home's historic character is complemented by thoughtful updates, including newer siding and a roof (2016) on both the home and oversized two-car detached garage. Inside, oak floors grace the living room, which features a cozy gas log fireplace, while an enclosed heated front porch with a wood-paneled ceiling provides year-round enjoyment. A spacious slate tile foyer makes a welcoming first impression, leading to three generously sized bedrooms on the second floor and three full bathrooms, including a primary en suite with a classic clawfoot bathtub. The finished basement offers flexible space for a recreation room, home office, or additional living area. Separate dining and breakfast rooms create a perfect flow for both entertaining and everyday living. Additional comforts include a five-zone boiler heating system, a whole-house attic fan, and central air conditioning, ensuring comfort in every season. With a blend of historic charm and modern convenience, this beautifully maintained home is a rare gem in Crystal Lake-schedule your private tour today!
Source: MRED #12316563
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12316563
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.