3245 N NEVA AVE, Chicago, IL 60634
From the moment you step inside this enchanting all Brick English Tudor home, you'll be captivated by the perfect blend of character and modern elegance. Step through the beautiful solid wood arched door into a sophisticated space framed with rich espresso-stained hardwood floors which are complemented by attractive chair railings. The large open concept living room feeds into an alluring dining room space complete with tons of natural light. The kitchen has been updated with all of today's modern amenities and boasts gorgeous granite countertops, stainless steel appliances, a built-in wine rack, stunning cabinetry, a generously sized pantry and beautiful backsplash. The main floor is complete with 2 large bedrooms, one of which has additional space for endless options including an office, the walk-in closet of your dreams, a den or more. There is a modern updated bathroom with a jetted tub on the main floor. Upstairs you will find a massive primary bedroom with gorgeous wood beamed ceilings and so much space. The second bedroom upstairs is equally as lovely and is spacious. The home is outfitted with gorgeous new lighting fixtures throughout. There is a full bath with a shower upstairs, rounding out the second floor. The recently updated basement is a perfect place for all your entertaining. The open space was fully finished in 2020, with grey porcelain tile flooring, soothing light grey walls, HDMI wiring is in place for tech lovers and the basement features another full bath. You will have peace of mind knowing the basement has a drain tile system keeping your basement forever dry. The home also comes with a hard wired ADT system. Walk outside and enjoy your deck or sit under the massive pergola that stays with the home, to enjoy those great Chicago nights. The yard is green and lush and leads you to the two plus car garage. The home has been lovingly maintained with the following recent updates: Roof (2016), Windows Recapped and Resealed (2015), Sump Pump with Battery Back Up (2020), Basement Refinished (2020) Basement Repoured and Drain Tile System installed (2012) Front Stairs and Tuckpointing of the front of the home and exterior GFCI (2023) This home in the vibrant Dunning community is located near shopping, transportation, great schools and more. Enjoy this oasis within the city because you will never want to leave home!
You may be able to put down less than the total down payment amount of $183,420 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: #mrd12147213