1804 Cardinal Ct, Pontiac, IL 61764
4 beds · 3 baths · 2,388 sqft
Beautiful two-story home in Fairway View Subdivision overlooking the 16th green on The Oaks at River's Edge golf course! Plenty of room for a family with 4 beds and 2.5 baths. Eat in kitchen has solid oak cabinets topped with granite countertops to go with stainless steel appliances. A formal dining room offers a perfect setting for meals with family around the table. Enjoy the access to a wet bar conveniently located in the back corner of the living room or cozy up around the fireplace on those cold winter days. Spacious 3 car heated garage of over 950 sq. feet has plenty of room for those toys and even offers extra storage above the garage with drop down ladder or door access through the master bedroom. Also located in the garage is a whole house vacuum system. Updates include a new water heater in 2024, washer and dryer in 2022, roof in 2019, and a new Trane HVAC system in 2019. The entire garage, all ceilings, and many rooms were freshly painted this past week. Enjoy peaceful evenings sitting on the back deck surrounded by a gorgeously landscaped yard and beautiful views of those golfers trying to sink their par saving putts. A deep crawlspace offers extra storage as well. Lots of pride of ownership shown throughout and looking for the next family to call this home theirs!
Source: MRED #mrd12082940
Source: MRED #mrd12082940
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: #mrd12082940
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.