320 W Cleveland St, Waterman, IL 60556
3 beds · 2 baths · 1,700 sqft sqft
Welcome to a place where comfort meets convenience! Nestled in the charming community of Waterman, IL, this inviting single-family home offers a harmonious blend of modern updates and classic comfort. With generous space both inside and out, this 3-bedroom, 2-bathroom gem is ready to welcome you home. Spanning 1,700 square feet of well-designed living space, this home promises a lifestyle of ease and enjoyment. Enter into the bright and spacious living area, perfectly suited for family gatherings or cozy nights in. The master suite is a true retreat, featuring a spacious bedroom with ample natural light and an en-suite bathroom that has functionality. Two additional bedrooms serve as perfect sanctuaries for family members or can be transformed into a home office or guest room. Carefully constructed for comfortable living, this property boasts a host of practical features. Enjoy peace of mind with a roof and flooring that were updated in 2019, as well as a new water heater installed in 2022. The gutter guards contribute to low-maintenance living, ensuring more time on the deck-a perfect backdrop for barbecues or simply soaking up the sun. The basement offers boundless potential, whether you're dreaming of a home gym, an additional family room, or a play area. The attached 2-car garage and additional driveway space provide ample parking and storage options, ideal for every family need. The outdoor space complements the home, offering room to garden, play, or entertain. The neighborhood supports a quality lifestyle, being just minutes away from Waterman Elementary School and a stone's throw from the local park, ensuring kids and adults have ample recreation options. Don't miss this opportunity to make 320 W. Cleveland your new home. Schedule a viewing today to see how this property can align with your lifestyle needs and dreams. Contact us to explore the possibilities waiting for you in Waterman's inviting neighborhood. Your future home awaits!
Source: MRED #mrd12201048
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12201048
Source: Public records
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: #mrd12201048
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.