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3103 Brookside Way, Wonder Lake, IL 60097

4 beds · 3 baths · 3,016 sqft

Wow, what a spectacular space! You'll be greeted by a warm and inviting front porch before stepping into a generously spacious open concept floorplan that is absolutely perfect for hosting gatherings and enjoying cozy family nights. The room's focal point is the amazing fireplace with gas logs. The kitchen boasts stunning cabinets with a pantry, and there's an expansive mudroom, currently being freshly painted, offering even more pantry space. The home is flooded with natural light, thanks to the full-size windows. Picture yourself savoring your morning coffee or dinner on the two-tiered deck while taking in the view of the oversized fenced-in yard. And let's not forget the shed in the back with a window, making it an ideal "she shed." As you make your way to the upper level, you'll discover a spacious loft! The large master bedroom has plenty of space for all your furniture. The master bathroom showcases brand new LVP flooring, two vanities, a walk-in shower, and enough space for a tub with room to spare. Additionally, the walk-in closet is exceptionally spacious, providing ample room for all your clothes and storage needs. Every bedroom in the house features a walk-in closet, and the full basement is just waiting for drywall and finishing touches, offering even more space in this lovely home. A quick closing is preferred, and this property truly represents an incredible value for the amount of space it provides. It's such a fabulous home and value awaiting its next owner. Let me know if you're interested in seeing it!

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

45-day closing guarantee 2
We work directly with the mortgage servicer to help you quickly and easily close the transaction.
Location
Details
Home
Size
3,016 sqft
Lot size
0.29 acres
Year built
2005
Type
Single Family Residence

Source: MRED #mrd12160377

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?

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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?

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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?

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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?

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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?

expand content

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.

View all FAQs
Last updated: Oct 08, 2024 09:04 am
Listing agent: Kelly Vance (815) 382-4841
Listing provided courtesy of: Century 21 Integra (815) 344-1033
Details provided by MRED and may not match the public record.
MLS ID: #mrd12160377
Based on information submitted to the MLS GRID as of Jan 23 2025 - 00:07. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.