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$277,000 SIGNIN

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221 Cornwall Dr, Crete, IL 60417

3 beds · 2 baths · 2,328 sqft

Welcome to Crete!!! Soak in the inviting open flow on the main level of this cozy georgian. The family room, dining room and kitchen provide a seamless space for entertaining guests and the breakfast bar makes the perfect kitchen hangout. Outdoors you will find a large wooden deck situated just outside the kitchen and dining room. The perfect place to unwind on a warm summer evening. Head upstairs to the primary bedroom with a brand-new walk-in closet, built in shelving, additional storage closet, and two huge windows. A full bath plus two additional bedrooms finish off the 2nd level. The main level office could serve as a 4th bedroom or playroom complete with full bath. The lower-level recreation room has plenty of space and natural lighting plus a laundry room and storage closet. You will find an oversized 2-car garage, storage shed, and side drive for additional parking on the exterior of the home. Newer water heater, sump pump, refrigerator and oven plus a primary walk in closet built in 2017. The perfect home situated on a quiet tree-lined street make 221 cornwall the total package. Welcome home.

Estimated
Seller's interest rate
2.7%
7%
Estimated
Monthly payment

$1,618
$2,098
You may also save up to $152,144 in total interest paid.

Learn about how it works

Why Roam


Gap financing to lower your down payment

Unlock down payments as low as 5% – only with Roam

5x the likelihood your offer is accepted

If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close

Close faster and stress-free

We close 2x faster because of our deep experience and lender relationships

Rates and payments are estimates based on public records.

Financials
Seller’s estimated current equity is SIGNIN
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $2,098 monthly payment

Financed
SIGNIN
Location
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Loan details
Loan type
FHA
Rate
2.7%
Remaining term
26 yrs and 5 mos
Remaining balance

Source: Public records

Monthly payment

All values shown are estimated costs / mo.

Total
$1,618
Principal & interest
$842
Mortgage insurance
$147
Property taxes
$482
Home insurance
$145
HOA fees
-
Utilities
Not included

Source: Public records

Home details
Size
2,328 sqft
Year built
1940
Type
Single Family Residence
HOA dues
$0.00

Source: MRED #12345222

Qualify

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.

Resources
Frequently asked questions

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.

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.

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.

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 “Save search” 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.

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 620, 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.

View all FAQs
Last updated: Apr 24, 2025 06:50 am
Listing agent: Curtis Johnson (773) 817-0007
Listing provided courtesy of: Baird & Warner (708) 697-5900
Details provided by MRED and may not match the public record.
MLS ID: #12345222
Based on information submitted to the MLS GRID as of Apr 24 2025 - 12:03. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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$1,618
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