3553 W 111th St, Chicago, IL 60655
3 beds · 2 baths · 1,850 sqft sqft
This delightful oversized Cape Cod is nestled in the heart of Mount Greenwood, offering a perfect blend of classic charm and modern upgrades. With 3 spacious bedrooms and 1.5 bathrooms, this home provides plenty of room for comfortable living and entertaining. As you step inside, you'll be greeted by an inviting layout that showcases the home's generous space and abundant natural light. The living areas are designed for both relaxation and gatherings, featuring beautiful new hardwood floors installed in 2022 that add warmth and elegance throughout. The kitchen is a chef's delight, equipped with stainless steel appliances! Adjacent to the kitchen, the dining area flows seamlessly into the living space, creating an ideal setting for family dinners and entertaining guests. Step outside to discover your fully fenced-in yard, a private oasis for outdoor enjoyment. This home features a brand new deck, completed in 2022, is perfect for summer barbecues or simply enjoying a quiet evening under the stars. This home also boasts practical upgrades, including a new air conditioning unit and furnace installed in 2019, ensuring year-round comfort. The roof, gutters, siding, soffits, and fascia were updated in 2017, providing peace of mind and enhancing the home's curb appeal.Beautiful 2.5 car garage connected to your yard. Located in a vibrant community, this charming Cape Cod is within walking distance to parks, schools, and local amenities, making it an ideal place to call home. Don't miss your chance to make this spacious, beautifully upgraded property yours - schedule a showing today!
Source: MRED #12191912
Interest rate and monthly payment estimated based on public records.
Source: MRED #12191912
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: #12191912
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.