35057 Il Route 23, Marengo, IL 60152
4 beds · 2 baths · 2,133 sqft sqft
Step into your own slice of country paradise with this charming 3-acre farm boasting a spacious and updated 4-bedroom, 2-bath home! The property offers a perfect blend of rustic charm and modern comforts. The farmhouse kitchen features stainless steel appliances, a pantry for additional storage, and natural lighting making it a cozy and inviting space for family meals.The home's layout includes a welcoming living room, with recessed lighting ideal for cozy nights in. The primary bedroom offers a peaceful retreat with an en-suite bath for added convenience. Three additional bedrooms provide ample space for family, guests, or even a home office. The home also includes a charming loft area, perfect for reading, office or additional living space, or a play area. Outside, the expansive farmland beckons with endless possibilities for gardening, livestock, or simply enjoying the tranquility of nature. Imagine harvesting your own fresh produce or enjoying the sunrise from your front step overlooking the picturesque landscape. Siding was recently updated. Outbuildings can be used for additional storage, Barn is complete with 4 horse stalls, and still a lot more room to host your summer gatherings. Close to 90! This property is a rare find, offering the perfect combination of rural living and modern amenities. Don't miss the chance to make this home your own private oasis!
Source: MRED #mrd12112342
Source: MRED #mrd12112342
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.
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: #mrd12112342