210 E PLUMB ST, Gifford, IL 61847
Discover the perfect blend of comfort and convenience in this charming 3-bedroom, 2-bathroom home nestled on a peaceful dead-end road at the edge of town. Sitting on three expansive lots totaling .55 acres, this property offers plenty of space for outdoor living. The oversized 2-car garage is a standout feature, with plenty of space for a working area, AC/heat, a storage room on the rear and an additional storage shed. Inside, you'll find a spacious living room and kitchen, ideal for gatherings, and a bright sunroom at the back of the house for relaxing with a good book or enjoying your morning coffee. The home has been thoughtfully updated with new carpet in all bedrooms (2021), a modernized kitchen with updated appliances (2022), a refreshed laundry room (2022), full bath beautifully remodeled (2023) and updated lighting throughout the home. Solar panels were installed in 2023, ensuring efficiency and style. The roof, siding, windows, and doors were all updated between 2013 and 2015. This home is ready for you to move in and start making memories.
You may be able to put down less than the total down payment amount of $75,403 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: #mrd12148538
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.