27525 Gerry Ln, Sycamore, IL 60178
3 beds · 4 baths · 2,921 sqft sqft
Custom built ranch, original owner! Located on Sycamore's North Side in a darling country subdivision, this ranch style home offers much space inside and out. With over 4,200 square feet of living space, you can easily live on the top floor and use the lower level for entertainment. With mature landscape, a brick exterior and grand entrance, you find yourself inside a quality home. The open floor plan features a split floor plan, formal Dining Room, and wood accents throughout. Formal and information dining spaces allow for many guests to enjoy a holiday dinner. The living room displays 13-foot vaulted wood accented ceilings, skylights, with hardwood floor through the primary level. Cozy up to the gas fireplace for cool weather memories. Solid 6 panel doors are found throughout the home, as well as a 1st Floor laundry room complete with room to fold/sort. This home is abundant with storage closets as well! The kitchen will delight any chef, with a grand center island, double oven, and hickory cabinets. Designed for entertainment, you can host family and friends, or maybe start a dinner club. Master suite is complete with double closets and large bathroom. Sunken jetted tub and separate stand-alone shower, allow for plenty of room to start or wind down the day. The two guest bedrooms offer a Jack-and-Jill style bathroom as well as hearty sized closets of their own. Add in a hall bathroom for occasional guest use, and you have found the home of your dreams. The lower-level walks out to the backyard and offers a large entertaining space complete with 3/4 bath, and gas fireplace. Bringing your imagination as you create a space for family to laugh and mingle. Add in plenty of storage space in well size rooms on this level. This home has been an award-winning holiday home, with local newspaper write-up on the exterior holiday decoration. In addition, the 3 bay garage is heated and offers great space to keep the cars cozy in those winter months, and cool in those summer months. If you are looking for space and quality, you have found it.
Source: MRED #12125180
Interest rate and monthly payment estimated based on public records.
Source: MRED #12125180
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: #12125180
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