2242 Deerpath Dr, Elgin, IL 60123
4 beds · 3 baths · 2,234 sqft
Welcome Home! Step into this stunning residence and be greeted by a grand two-story entryway that sets the tone for the elegance within. The tall ceilings create a spacious atmosphere, flowing seamlessly into the inviting living and family rooms. Cozy up by the fireplace in the family room, perfect for chilly nights spent with loved ones. Gorgeous hardwood floors grace the entire home, enhancing its warmth and charm. The neutral color palette throughout allows for effortless integration with any design style, making it a perfect canvas for your personal touch. The kitchen boasts stainless steel appliances and generous counter space, ideal for prepping, cooking, and entertaining. Enjoy mealtime in the large dining room, conveniently located right off the kitchen for easy access. Venture to the second level, where you'll find four spacious bedrooms, including a luxurious primary suite featuring a newly renovated bathroom and fresh paint. Additional updates include crown molding throughout, contemporary light fixtures, and fresh paint in the primary suite, fourth bedroom, and kitchen. The newly updated basement is a versatile space with laminate flooring and new trim, offering endless possibilities as a recreation room, game room, or movie haven. There's also ample storage for crafting, sewing, or creating your own art studio! Recent updates include brand-new thick gauge insulated siding installed in 2024 Fall of 2023, and a high-efficiency furnace and AC system, installed and maintained since 2018. Step outside to the back deck and gazebo, perfect for entertaining guests or enjoying a relaxing evening grilling out. This beautiful home is a rare find and won't last long! Don't miss your chance to make it your own!
Source: MRED #mrd12163780
Source: MRED #mrd12163780
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.
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.
MLS ID: #mrd12163780
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.