22W250 WOODVIEW DR, Medinah, IL 60157
Welcome to 22W250 Woodview Dr, in highly sought after Medinah IL. Known for its world renowned golf course and spacious living, Medinah is a great place for all walks of life! This spacious three bedroom, two bathroom, all brick ranch is nestled on a large half acre lot. Backyard features a custom paver brick patio with retaining wall that contains built in LED lighting, over looking landscaped backyard with trees lining property for privacy. Yard also has built in brick fire pit. Home features refinished hardwood floors throughout the entire home, plus two large living spaces. Front living room boasts large front windows, for a beautiful view and a wood burning fireplace. Great room/family room was recently remodeled, with 10ft vaulted ceiling, recessed LED lighting, large sliding glass door to paver brick patio, and open to kitchen space with built in bar for a great entertaining space. Kitchen features all stainless steel appliances, granite countertops, and lots of cabinet space for storage. Both bathrooms were recently remodeled. Fresh paint throughout entire home in neutral colors. 2 car attached heated garage with 14 ft. ceiling and newly installed side mount door opener with WIFI capabilities. New roof (complete tear off) with high end material installed in 2021. New oversized hot water heater installed in 2023. Furnace and A/C units recently serviced. Tuckpointing on home done in 2024. Driveway freshly seal coated 2024. New Large aluminum storage shed for extra storage space. Gutter downspouts buried and routed for proper drainage with pop-ups.
You may be able to put down less than the total down payment amount of $269,480 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: #mrd12135655