283 N Blue Jay St, Cortland, IL 60112
3 beds · 3 baths · 2,488 sqft
Don't miss this one! New carpeting and lush padding, new neutral luxury vinyl plank flooring, freshly painted throughout, new driveway sealing coating, and many other updates! How about these important features? An energy-efficient Solar System means low electric bills. A new roof in 2017. A radon mitigation system was installed at the time of construction. This Cortland subdivision provides a country-feel atmosphere but is close to Sycamore and DeKalb with more amenities and a university nearby. For job seekers, Facebook headquarters is moving minutes away so a short commute might be attractive to you. From the front door, you will walk into an open living room and dining room combo which is welcoming, bright, and cheerful. If you want an expansive kitchen and family room, this home has it. What a perfect layout for everyday living and entertainment! This two-story home is nearly 2,500-square-foot home and is larger than most of the new construction developments close by. The 19x18 master bedroom is luxurious and very roomy and the other bedrooms are good-sized. Another plus is a huge 20x12 bonus room upstairs with a closet that can be converted into a 4th bedroom or used for other needs. The outside features attractive front yard landscaping with flowerbeds and a beautiful private backyard. The neighborhood has playgrounds, walking trails, and bus services for nearby schools. The home is minutes to I88, shops, town centers, restaurants, and more. A solar system is green, environmentally friendly and provides your energy needs which is generated by the sun. Your monthly bills are typically very low and makes for good savings! Sellers will pay for solar system panels at time of closing. Make an appointment today to see this beauty!
Source: MRED #12192438
Interest rate and monthly payment estimated based on public records.
Source: MRED #12192438
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: #12192438
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.