20801 Barker St, Lynwood, IL 60411
4 beds · 4 baths · 2,000 sqft
Stunning 4-Bedroom Home with Solar Panels in Exclusive Lynwood Community! Welcome to this magnificent 4-bedroom, 3.5-bathroom home nestled in one of Lynwood's most sought-after and private neighborhoods! From the moment you step inside, you'll be captivated by its grand high ceilings, freshly painted interiors, and an abundance of natural light that fills every room.This home offers spacious and elegantly designed living areas, perfect for families and entertaining guests. The huge backyard provides endless possibilities-whether you dream of a tranquil retreat or a lively space for gatherings.One of the most incredible features of this home is its solar panels, offering huge savings on electricity costs! Enjoy the benefits of sustainable, energy-efficient living while keeping your utility bills low-a rare and valuable feature for any homeowner. Located in a safe and peaceful community, this property is truly one of the best homes in Lynwood. Don't miss this rare opportunity to own a home that blends luxury, comfort, and privacy. Step into the beautifully finished basement, a true extension of the home's living space! This impressive area features a spacious bedroom, a modern bathroom, and a vast family room-perfect for entertaining, movie nights, or creating the ultimate relaxation retreat. Thoughtfully designed with quality finishes, this move-in-ready basement offers comfort and style, making it an ideal space for guests, in-laws, or a private getaway. Don't miss the chance to enjoy this incredible living space!" Schedule your private showing today-this gem won't last long!
Source: MRED #12327233
Send questions to support@withroam.com
Why Roam
Lower rates and lower down payments
The only homebuying option for you to put 5% down and get a 5% rate.
Closing guarantee
We can close in 45 days or we’ll pay the seller’s mortgage until we close.
Offer acceptance
95% of offers accepted when made with Roam. 5% accepted without.
Rates and payments are estimates based on public records.
Source: Public records
Source: MRED #12327233
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.