1804 CARDINAL CT, Pontiac, IL 61764
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!
You may be able to put down less than the total down payment amount of $148,332 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: #mrd12082940