2850 BRIAN LN, Montgomery, IL 60538
Here it is -- the one you have been waiting for!! This home has been updated and upgraded everywhere! Welcoming 2-story foyer with turned staircase (NEWer (2020) rails and bannisters), to the 2nd level. NEWer (2020) Acacia hardwood flooring, interior doors, casings and hardware and baseboards and trim throughout the home. The formal living room is open to the formal dining room and can accommodate the largest of gatherings. The 2020 kitchen renovation features all stainless steel appliances, updated lighting, cabinets and hardware, quartz countertops with glass subway tile backsplash, farmhouse-style sink and farm-style sliding door to the pantry. Enjoy the island breakfast bar or retreat to the sunroom/breakfast room! The family room boasts NEWer (2021) recessed lighting and wall of windows! 1st floor powder room has also upgraded with NEWer (2020) vanity and toilet. Upstairs are 4 spacious bedrooms, all with NEWer (2020) closet doors. The master has its own private updated bath (2020) featuring upgraded dual sink vanity, soaking tub, separate shower and private commode with NEW toilet. The secondary bedrooms all have large closets, hardwood floors and easy access to the updated hall bath. Convenient 2nd floor laundry, too! Enjoy the fully-fenced backyard from your stamped concrete patio! Rest easy knowing the roof, siding, downspouts, gutters and garage door have all been replaced in 2024, as well as the front exterior, WiFi-enabled lighting! Radon mitigation system. Walk to pool, clubhouse and parks. Terrific District 308 schools! Don't miss this one!
You may be able to put down less than the total down payment amount of $166,161 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #mrd12155061