317 N Western Ave, Ladd, IL 61329
2 beds · 2 baths · 1,200 sqft
Great home in super location! Sits on the outskirts of town, feels like country as you look out the front window at the farm fields! Nice sized rooms throughout! Inside you'll find 2 bedrooms and 2 full baths. There are several built-ins in the home also. One bathroom on the main level and one in the basement. Both screen doors are new and both exterior doors are newer. Appliances will stay with the property; refrigerator 2024(3 yr warranty transferable to new owner), furnace & A/C 2021 Hi Efficiency, washer & dryer 2020 with 10 warranty. Electric is 100 amp circuit breakers. In back is a partially fenced in back yard. The yard does extend further back to the electric pole area, the lilac bushes are on this property. There is an alley just behind there, just not used much. The home has central air and gas forced air heat. The basement has tall ceiling, so plenty of potential to put some finished areas there to add value to the home. The size of the detached garage is 16x24 and currently has a window a/c unit that will stay with the property. Garage is fully insulated Sept. 2024. Roof newer in 2014, was a complete tearoff, 30-35 yr roof.
Source: MRED #mrd12175802
Source: MRED #mrd12175802
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
How can you find assumable mortgage listings?
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?
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.
MLS ID: #mrd12175802
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.