309 WABENA CT, Minooka, IL 60447
This well loved home needs new owners to love. Boasting a little over 2200 sq ft, four bedrooms and three and half baths and full finished basement. A two story foyer is just right to let in loads of natural light. A living room/dining room combo with oversized baseboards & crown molding with hardwood floors. The hub of the house maybe the kitchen with ample cabinetry, island, pantry closet, all Stainless Steel appliances (dishwasher brand new) & brand new faucet. The family room with hardwood floors is on the way to the half bath & laundry room. Upstairs there are four spacious bedroom all with but one have walk in closets. Private suite has vaulted ceiling, walk in closet and on suite with double sinks, shower/tub combo and linen closet. The full finished basement could be the get away you are looking for. Rec room with built ins, refrigerator & sink area, also find an area for crafting, playing or working. Also you will find full bathroom with walk in shower and there is even a storage room! Enjoy the listening to the birds on the deck, or have cozy little fire, storage shed all in the fenced yard. Bike path right beyond the fence. Solar panels (looking into information on them). Minooka Schools Lots of possibilities could be had in this home. Being sold as-is
You may be able to put down less than the total down payment amount of $49,208 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: #mrd12148895