22443 Woodland Ln, Frankfort, IL 60423
4 beds · 3 baths · sqft
Welcome to this exceptional, one-of-a-kind home in the highly sought-after Lakeview Estates subdivision of Frankfort. Located within the top-rated 157C school district and Lincoln-Way East High School, this 4-bedroom, 2.5-bathroom home exudes charm and modern elegance from the moment you step inside. The heart of the home is the breathtaking two-story stone fireplace, a unique feature that instantly creates a sense of warmth and coziness. The open and airy layout is ideal for both everyday living and entertaining, featuring two generous family rooms on the main level and a beautifully appointed kitchen with a large island and extensive counter space. The finished basement offers two additional bedrooms, ideal for guests or a home office. Step outside to enjoy the newly refreshed back deck, complete with new railings, fresh paint, and a fire pit, perfect for outdoor gatherings. The front porch is equally inviting, to enhance the outdoor experience. Plus, enjoy an additional patio near the heated three-car garage, conveniently finished with an outdoor sink. Situated on a picturesque corner lot adorned with mature trees, this home has been lovingly maintained and thoughtfully updated. Recent upgrades include a brand-new roof with a lifetime warranty on both materials and labor, transferable to the new owner (installed May 2024), a new water softener (summer 2024), and much of the home was just freshly painted. The home also features a new refrigerator, kitchen sink faucet, light fixtures, and new reverse osmosis filters, ensuring modern convenience. The basement has been updated with new vinyl flooring (2023) and new closet doors (2024). The upstairs guest bathroom has a new solar-powered skylight, new shower plumbing fixture and new toilet. Additional improvements include a new furnace, water heater, and sump pump (all 2019), as well as a new garbage disposal (2020). This extraordinary home is ready for you to move in and start making lasting memories. Don't miss your opportunity to own a piece of Frankfort's finest living-schedule your tour today! Previous buyers financing fell through, wonderful opportunity to make this home yours!
Source: MRED #12259481
Interest rate and monthly payment estimated based on public records.
Source: MRED #12259481
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.
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: #12259481
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.