2512 Forest Ave, Riverside, IL 60546
6 beds · 4 baths · 2,244 sqft sqft
Elegant and Modern 6-Bedroom, 4 Baths in an excellent location! Discover this beautifully updated 6-bedroom Home featuring a second-floor with modern amenities. Conveniently located near schools and serene nature trails, this home offers both elegance and practicality. The second floor boasts 4 spacious bedrooms and 2 full baths with skylights. The master bedroom includes a luxurious jacuzzi tub and separate shower, a walking closet, complemented by a dedicated HVAC system with high-efficiency units. Hardwood floors and Pella windows enhance the modern aesthetic throughout the second floor. The first floor includes a welcoming living room, formal dining room, and a spacious kitchen with wood cabinets and granite countertops. Two additional bedrooms and an updated bathroom complete this level. The finished basement provides a versatile recreational area, a full bathroom, a laundry area, and an extra room for various uses. Additional features include a newer tankless water heater, New garage door, smart thermostat 2019, new alarm-security system, nest smoke detectors, custom-made oak stairs, two condenser units. This home is move-in ready and perfect for modern living, this location is minutes away to Down Town's Riverside, La Grange, Brookfield, and the Salt Creek nature's Bike-Walking Trails, minutes away to access main highways as well!
Source: MRED #12135911
Interest rate and monthly payment estimated based on public records.
Source: MRED #12135911
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: #12135911
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.