2094 Peach Tree Ln, Algonquin, IL 60102
2 beds · 3 baths · 0 sqft sqft
**Multiple Offers Received! Highest and Best Offers are due by 10/8 5pm** Seller has verbally accepted an offer, pending court approval**Opportunity Knocks! 2 bed, 2 1/2 bath townhome with attached 2 car garage in the popular Willoughby Farms subdivision! A little bit of TLC will make this the perfect home! First floor has newly installed wood floors, is an impressive two story living room with fireplace, plus glass sliding doors that lead out to nice patio. Kitchen has stainless steel appliances. Large primary suite with walk-in closet and bath with double sink vanity. Lots of closets and storage - Attached 2 car garage has pull down attic. Close to everything. Investor Friendly with No rental cap. Healthy Association with 1.39M in reserves and no current special assessments! Estate Sale, Sold As-Is. Buyer to do due diligence and verify all listing details and association information. Minimum of 5 days market time required before considering offers. Court Approval Required, please allow time for response. Submit offers on Multiboard 7.0 contract and include POF/current pre-approval and probate rider that can be found in additional information.
Source: MRED #mrd12180742
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12180742
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.
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: #mrd12180742