20 N Cornell Ave, Villa Park, IL 60181
3 beds · 3 baths · 2,676 sqft
Don't miss out on this assumable FHA mortgage with an interest rate of 2.75% on this home. Welcome to your dream home! This beautifully maintained Cape Cod residence boasts 4 spacious bedrooms and 3 full baths, offering ample space and comfort. Nestled in a prime location, this home is just a short stroll away from the vibrant downtown area of Villa Park. Enjoy easy access to a variety of dining, shopping, and entertainment options, as well as convenient transportation links to metra and highways. Step into a warm and inviting living room, perfect for relaxing or entertaining guests. The adjacent dining area flows seamlessly into the well-appointed kitchen, featuring modern appliances, ample cabinetry, and a cozy breakfast nook. The home offers four generously sized bedrooms, including a luxurious master suite complete with an ensuite bath. Each bedroom provides plenty of closet space and natural light, ensuring a restful retreat for everyone in the family. With three full bathrooms, morning routines will be a breeze. Each bathroom is tastefully designed with contemporary fixtures and finishes, providing both style and functionality. A finished basement offering additional living space, perfect for entertaining. A charming backyard with a deck area, ideal for outdoor gatherings and summer barbecues. A long driveway that leads to a 2 car detached garage providing plenty of parking and extra storage. Located in a friendly and welcoming neighborhood, this home is part of a thriving community known for its excellent schools, parks, and fantastic biking/walking trail. Villa Park's historic charm and community spirit make it a wonderful place to call home. Don't miss the opportunity to own this stunning Cape Cod home in one of Villa Park's most desirable locations. Schedule a showing today and experience the perfect blend of comfort, convenience, and charm!
Source: MRED #mrd12106890
Source: MRED #mrd12106890
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: #mrd12106890
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.