25 Stratford Ct, South Elgin, IL 60177
3 beds · 4 baths · 2,289 sqft
Welcome to this exquisite River Ridge home, nestled in the highly acclaimed St. Charles School District 303. Upon entering, you're greeted by a bright two-story foyer that sets a warm tone. This charming residence features a convenient first-floor office, perfect for remote work or study. The open-concept living and dining area leads to a spacious kitchen, a large island, stainless steel appliances, and a pantry. Sliding glass doors open to a sizable patio that overlooks a beautifully fenced backyard. The inviting family room, conveniently located adjacent to the kitchen, offers hardwood floors and a cozy stone fireplace complemented by built-in bookcases. Upstairs, you'll find an impressive master bedroom boasting vaulted ceilings, two closets, and an ensuite bath equipped with a soaking tub, separate shower, and dual sinks. Two additional bedrooms and a small loft area that overlooks the foyer provide ample space for family or guests. The fully finished basement includes a genuine fourth bedroom, complete with an egress window and extensive closet space, along with a third full bath, media room, game room, and a large storage area. The extra-deep 2+ car garage provides access to a practical laundry/mud room. Recent upgrades include: Newer kitchen (2021), new roof (2023), gutters (2015), a maintenance-free fence (2016) and an HVAC system with a humidifier (2017, 2019). water heater (2024), solar panels (2023), Kitchen appliances(2021), Washer and dryer (2022). Enjoy the outdoors with nearby bike trails and a dog park along the Fox River, plus a neighborhood park just a block away. This incredible home is just minutes from downtown St. Charles and St. Charles North High School. Make it your HOME.
Source: MRED #12292058
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12292058
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.
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.