2415 W Warner Ave Apt 2 # 2, Chicago, IL 60618
9 beds · 4 baths · sqft
Stunning and well cared for North Center legal 3 flat on a 30ft wide lot with amazing duplex up owner's residence on a one way picturesque tree-lined street in the highly sought after Coonley School district. Ideal for a live-in owner who can leave inexpensively with two income producing units or keep as an armchair investment and lease out all three units. The top-floor condo quality owner's unit has a contemporary open floor plan on the main level with multiple living and dining spaces, two bedrooms, full bathroom and a chef's kitchen with great counter space, stainless steel appliances and large island with butcher block top. The second level has two large bedrooms with great closet space, a reading nook and a well appointed full bathroom with soaking tub and shower. The extremely spacious 3bd/1ba first floor unit with hardwood floors throughout was recently upgraded with stainless steel appliances and a pristine bathroom which is rented for 2500 until 5/26. The ground floor unit has great ceiling height, private side entrance, expansive living area with two bedrooms and one bathroom and has been rented to a long term tenant for 1250. The rest of the lower level encompasses mechanical/utility rooms, bldg laundry, sump pump and a large bonus office space for the use of the owner that was just refinished and perfect for home office or gym. Completing this one of a kind building is large manicured yard with privacy fence, a newer detached 2.5 car garage with tons of storage space. A must see building only blocks to the River Walk, Horner Park, Coonley School and North Center restaurants and retail.
Source: MRED #mrd12165005
Source: MRED #mrd12165005
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: #mrd12165005
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