3057 Derby Ct, Aurora, IL 60502
4 beds · 4 baths · 3,687 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Step inside this beautifully updated home. The inviting open foyer welcomes you into a space filled with warmth and light. The heart of the home lies in the spacious family room, featuring a cozy brick gas fireplace that's perfect for chilly evenings. The gourmet kitchen is a chef's dream, boasting sleek quartz countertops and stainless steel appliances. Enjoy casual meals at the breakfast bar or in the dedicated dining area, making this the ideal spot for both entertaining and everyday living. Beautiful hardwood floors flow seamlessly throughout the main level, enhancing the home's modern charm. Retreat to your stunning primary bedroom, complete with a walk-in closet and a luxurious private bathroom featuring a separate shower, relaxing soaker tub, dual sinks, and vaulted ceilings-your personal sanctuary awaits! The additional three bedrooms are generously sized, with one featuring its own walk-in closet. The fully updated guest bath showcases stylish new quartz countertops. Plus, new carpet adorns the entire second floor, providing a fresh and inviting feel. The finished walk-out basement expands your living space with a spacious recreation room and an additional area perfect for lounging or storage, complete with a half bath for guests. Step outside to your patio in the fenced yard or enjoy the deck that overlooks your serene outdoor space-ideal for summer barbecues and relaxing evenings. Nestled in a quiet cul-de-sac, this home offers a perfect blend of comfort and style. Don't miss the opportunity to make it yours! Updates include New Siding 2021, New Roof 2021, Kitchen Appliances 2020, A/C 2021, New Ejector Pump 2021, New Landscape Retaining Wall 2022.
Source: MRED #12188350
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12188350
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 and Equal Opportunity Act.