20685 Grand Haven Dr, Frankfort, IL 60423
3 beds · 4 baths · sqft sqft
Spectacular brick and stone true ranch in upscale Lighthouse Pointe! Features include amazing 2-story entry with arched palladium window, dual beveled glass with iron inserts 8 ft doors! Much desired main level study featuring hardwood floor, cathedral ceiling and ceiling fan! Formal dining room includes dramatic elevated ceiling, hardwood floor and (2) panel windows! Stunning open great room features, hardwood floor, floor to ceiling stone fireplace, beamed cathedral ceiling, electronic remote dual skylights, dual ceiling fans, (4) panel oversized windows and access door to the yard! Beautifully designed kitchen includes travertine tile floor, beamed cathedral ceiling, recessed lighting, dual skylights, granite countertop, raised panel maple cabinetry, high-end appliances including full size refrigerator/freezer & double oven with warming drawer and pot filler! Large eating area featuring oversized (3) panel windows with access door to the yard! Primary bedroom features hardwood floor, octagon tray ceiling with ceiling fan, walk in closet and fireplace! Primary bath includes stone tile floor, custom oversized raised vanities with granite top, sit down shower, whirlpool tub and fireplace! Main level powder room with stone tile floor and pedestal sink! Main level laundry room! Bedroom (2) includes a walk in closet, ceiling fan, (2) panel window and attached full bath with granite top! Bedroom (3) includes (2) panel window with arched transom, cathedral ceiling, walk in closet, ceiling fan, hardwood floor and attached bath with whirlpool tub! Dual entry (north and south side of the house) into the huge basement with heated floors, fireplace, 9 foot ceiling and partially framed roughed in bath! Heated (3) car side load garage with floor drains and car charger! Awesome fenced in yard features newer (2021) in ground heated pool with paver surround, built-in stone grill station with granite top and multiple stunning fire features! In ground sprinkler system! Elaborate exterior nightscape system! Stone pillars with mailbox at the entrance of the driveway! Solid 6 panel doors! Aluminum soffits and gutters! Pull down stairs to the attic! 75 Gallon water heater! High efficiency furnace! School district 161 and Lincoln Way Easy High School! Fabulous location with walking paths! Close to park, shopping and expressways!
Source: MRED #12202753
Interest rate and monthly payment estimated based on public records.
Source: MRED #12202753
Source: Public records
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: #12202753
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.