25714 S Linden Ave, Monee, IL 60449
4 beds · 2 baths · 2,831 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Step inside and explore the spacious layout of this home, featuring four bedrooms with the potential for a fifth. Upon entering, you're welcomed by a ceramic-tiled foyer that leads into a cozy living room, complete with plush carpeting and vaulted ceilings. The kitchen, also adorned with ceramic tiles, stainless steel appliances, and opens to a dining area. Upstairs, you'll find three cozy bedrooms. The full bathroom on this level is accessible from both the hallway and the primary bedroom, offering privacy and convenience. Descending to the lower level, a comfortable family room with a warm gas fireplace awaits, along with another full bathroom and the fourth bedroom designed for peaceful relaxation. The basement offers a large, versatile space currently set up as a laundry and furnace room but easily convertible into a fifth bedroom, theater room, or home office, adapting to your lifestyle needs. Outside, the fenced backyard includes two sheds, the largest with electrical power, and an above-ground pool for outdoor enjoyment. The roof was replaced about six years ago. Please be aware that this property is a new short sale, and buyers should be prepared to wait 3 to 6 months. This home needs paint and other cosmetic work but offers an excellent opportunity for someone with the right vision. The house is being sold "as-is."
Source: MRED #12285530
Source: MRED #12285530
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 and Equal Opportunity Act.