20543 Greenwood Dr, Olympia Fields, IL 60461
3 beds · 2 baths · 2,041 sqft
All brick sprawling ranch sits on an oversized corner lot, with great floorplan, ample sized rooms and many improvements you will appreciate. With over 2,000 square feet, freshly painted neutral throughout, you'll be greeted with a large inviting living room with a wood-burning fireplace, an over-sized bay window and original parquet flooring that leads into the dining room. Hardwood flooring is in all three bedrooms and they are each accented by modern light fixtures. The kitchen is filled with maple cabinetry, new quartz countertops (2024) and an island with a Jenn-Air gas cooktop. Large family room is open to the kitchen with gleaming, refinished hardwood flooring (2024) and LED lighting (2024), making this space ideal for lounging alone or having a gathering. The family room features a new quartz counter wet bar and an exposed brick wall. The main bath has a whirlpool tub and a granite topped vanity, while the second bath was recently updated with a granite topped vanity and a custom shower enclosure with sitting. Sitting next to the main floor laundry, you will love the sunroom which gives a sheltered space to enjoy a breeze. Anderson windows throughout with most having custom blinds. Improvements include a brand new roof (2024), PVC privacy fencing (2022) and wrought iron (2022) added to secure the yard, furnace (2016) and hot water tank (2014). Delightful backyard has paver brick patio and space to entertain or create a piece of art with your green thumb. The crawlspace is warranted with Perma-Seal and there's a large storage shed attached to the garage. HWA Home warranty included!
Source: MRED #mrd12157352
Source: MRED #mrd12157352
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: #mrd12157352
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.