19107 Loomis Ave, Homewood, IL 60430
3 beds · 3 baths · 1,828 sqft
Welcome to this quality-built two-story home with a finished basement, nestled in the heart of Homewood! Step inside the inviting entryway that leads to a bright and airy formal living room, complete with beautiful hardwood flooring. The formal dining room is perfect for hosting family meals or gatherings. The updated kitchen features dark cabinetry, quartz counters, chic tile backsplash, stainless steel appliances and a cozy breakfast nook, ideal for casual dining. The spacious family room is anchored by a classic fireplace and offers easy access to the backyard and patio. A convenient half bath rounds out the main floor. Upstairs, the luxurious primary suite is your private retreat, boasting dual closets, a full ensuite bath, and a private balcony. Two additional generously sized bedrooms and a spa-inspired full bath complete the upper level. The partially finished basement offers even more living space with a rec room and a laundry area. Outside, enjoy the large patio overlooking the expansive backyard. With an attached 2-car garage, there's plenty of room for parking. Ideally located near shopping, dining, award-winning Homewood-Flossmoor schools, parks, and more, this home offers both comfort and convenience. A preferred lender offers a reduced interest rate for this listing. Schedule your showing today!
Source: MRED #mrd12182524
Source: MRED #mrd12182524
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: #mrd12182524
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.