213 N Sunset Ln, Addison, IL 60101
3 beds · 3 baths · 1,946 sqft
Welcome to the desirable Enclave at Mill Creek! This stunning, newer ranch features 3 bedrooms and 2 1/2 bathrooms that offers an inviting blend of style and functionality. Step onto the charming front porch, perfect for relaxing with your morning coffee or greeting guests. Inside, the open floor plan boasts high ceilings, abundant natural light, and elegant finishes throughout. The modern kitchen features granite countertops, stainless steel appliances, and custom cabinetry. The island is SUPER SIZED and great for entertaining! Walk in pantry, under cabinet lighting and pull out shelving on the lower cabinets make this kitchen not only gorgeous but functional. The kitchen is open to an eating area and family room with a cozy fireplace. Off the eating area is an oversized deck for quiet relaxing! Primary suite is fit for a King and/or Queen! Ample natural light, walk in closet and spacious and luxurious bath. Bath has extended height spout and door in the shower, bidet and double sinks. Gleaming hardwood floors thru out the entire first floor. Custom window treatments thru out including electronic shades on the sliders. The full finished basement offers a deeper pour creating higher ceilings. The space is ideal for a rec room, home office, gym or entertainment area. There is a half bath that can easily be converted to a full bath. It also has a a dedicated 20 amp service that is currently used for an infra red sauna. The garage is insulated and drywalled with built in cabinets. Outside there are additional window well covers and underground down spouts. No detail has been overlooked! Monthly association dues eliminates the need for lawn care or snow shoveling! What a relief! Located near shopping, dining, parks, schools and major highways, this home offers both comfort and convenience in a prime location. Don't miss this incredible opportunity!
Source: MRED #12318465
Source: MRED #12318465
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.