390 Merrill Ave, Calumet City, IL 60409
3 beds · 1 baths · 936 sqft
FIRE YOUR LANDLORD! Step into this beautifully remodeled 3-bedroom, 1-bath RANCH with a FULL BASEMENT that seamlessly combines modern elegance with cozy comfort. With a captivating exterior featuring a 2 car garage with a driveway, a cute front porch that beckons you to relax and enjoy the peaceful neighborhood, you'll instantly feel at home. Remodeled in 2016 interior boasts stunning hardwood floors that flow throughout the living room and all three bedrooms, complemented by crisp white baseboards and updated light fixtures that elevate the ambiance. The heart of this home lies in its inviting eat-in kitchen, adorned with rich cherry cabinets, luxurious granite countertops, and sleek stainless steel appliances-perfect for culinary adventures or casual family meals. You will enjoy the chick bath with white vanity and trendy finishes. The full partially finished basement offers endless possibilities for recreation or storage, while outside access adds convenience to your everyday life. Nestled on a well-maintained block with a RECENTLY INSTALLED 6 ft WOODEN PRIVACY FENCE surrounding your spacious backyard oasis, this property is ideal for entertaining or simply unwinding after a long day. Don't miss out on this gem! Conveniently located near highways, shopping, dining options, and all necessary amenities-this home offers everything you need for modern living. Schedule your private showing today and make this dream home yours before it's gone! With a 13 month post closing HOME WARRANTY INCLUDED, this home not just beautiful but also worry-free. All types of financing including VA & FHA are welcomed. This Home may qualify for DOWN PAYMENT ASSISTANCE GRANT MONEY from IHDA 1 St. Home Illinois up to $10,000, Cook County Home Advantage Program up to 5% or $25,000 plus other stackable regional bank programs. Available for a quick occupancy. Low taxes!
Source: MRED #12215257
Interest rate and monthly payment estimated based on public records.
Source: MRED #12215257
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: #12215257
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.