367 Emerald Ln, Algonquin, IL 60102
3 beds · 3 baths · 1,610 sqft
Look no further-you've found your dream townhome! This stunning end-unit features 3 bedrooms, 2.5 baths, and a 2-car attached garage. As you step into this beautifully maintained home, you'll be greeted by elegant 15-inch Travertine Italian Ceramic Tile throughout the first floor, setting the stage for a luxurious living experience. Kitchen just updated summer 2024, is a chef's delight with new white kitchen cabinets, new quartz countertops, a stylish bar counter, and a new backsplash. It's a contemporary culinary haven, perfect for preparing meals with ease. The two-story family room is filled with natural light, offering an airy, open-concept space ideal for cozy evenings or entertaining guests. Large windows frame picturesque views, letting you enjoy the beautiful outdoors. Step through the sliding doors off the kitchen onto a newly laid 12 x 20 brick paver patio, surrounded by a 3-ft deep retaining wall. This tranquil backyard space, shielded by lush landscaping, is perfect for relaxation or hosting private gatherings. Upstairs, the master bedroom is a massive retreat with a cozy sitting area and an ensuite bath featuring new ceramic tile floors and shower walls. The spacious walk-in closet offers custom California Closet built-in shelving and extra storage with a pull-down attic. The other two bedrooms are equally inviting, with ample space, natural light, and custom California Closets built-ins. Both upstairs baths feature new quartz countertops and new Luxury Plank flooring, blending luxury with functionality. Recent upgrades include fresh paint throughout the entire home in 2023, a new water heater, and stainless steel kitchen appliances installed in 2022. This well-maintained home benefits from regular servicing of the A/C, heater, and water heater twice a year, ensuring optimal functionality. Located in the prime Algonquin Lakes community, enjoy five miles of walking paths, walking distance to Algonquin Lakes Elementary School, nearby parks, and baseball fields. The recently revitalized downtown Algonquin and numerous new shopping and dining options along Randall Road are just a few miles away. Seize the chance to make this exquisite property yours this fall! Schedule a viewing today to experience all the beauty and charm this home has to offer.
Source: MRED #mrd12177400
Source: MRED #mrd12177400
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: #mrd12177400
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.