20543 GREENWOOD DR, Olympia Fields, IL 60461
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 (2025), 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.
You may be able to put down less than the total down payment amount of $133,385 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: #mrd12157352
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.