3052 Mosedale St, Elgin, IL 60124
3 beds · 3 baths · 2,154 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Experience space and tranquility in the beautiful subdivision of Providence, where winding streets, low traffic, and lushly landscaped open spaces create a serene atmosphere. From the moment you step inside, pride of ownership, quality craftsmanship, and attention to detail are evident throughout. The inviting living room features built-in shelves and cabinets flanking a gas-start and wood-burning fireplace, with abundant natural light streaming in from the front deck. LED recessed lighting and luxury vinyl flooring extend throughout the entire home, adding both style and durability. The kitchen is a chef's delight, boasting newer deluxe stainless steel appliances, ample cabinetry, a large pantry closet, and additional counter and cabinet space in the dining area. Step out onto the deck overlooking the backyard, perfect for morning coffee or evening relaxation. Adjacent to the kitchen, the cozy family room offers a wonderful gathering space. A convenient powder room completes this level. Upstairs, the spacious primary suite includes a full bath, generous closet space, and a striking tray ceiling. A second bedroom, another full bath, and a second-floor laundry room add to the home's practicality. The large loft provides flexibility for a home office, workout area, or additional lounge space. The lower level offers a private and oversized third bedroom - ideal for guests or a quiet retreat. Now for the big surprise! The insulated, heated two-car garage features an epoxy floor and can easily double as a hangout space, mancave, or mechanic's dream workshop. Need to park cars? It converts back into a functional garage anytime. Please note: Cabinets and hot tub are not included in the sale. Schedule your tour today and discover all that this stunning home has to offer! Better than average construction features cinder block walls between units for quiet enjoyment of your home and less noise from neighbors than many of the other townhomes in the area.
Source: MRED #12200838
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12200838
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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 of Equal Opportunity Act.