39271 N Petite Ct, Lake Villa, IL 60046
3 beds · 3 baths · sqft
Secluded Lake Villa Ranch in Petite Lake Park: Move-In Ready! Tucked away in the peaceful surroundings of unincorporated Lake Villa, this beautifully remodeled 3-bedroom, 2.5-bath ranch offers you a refreshing escape with a modern touch. With updates from 2021, this home combines timeless charm with contemporary comforts, making it easy to settle right in. The large living room is a welcoming space, complete with a classic stone fireplace that adds both warmth and character. Three oversized windows flood the room with natural light, creating a bright, inviting setting for entertaining friends and family. The open kitchen is a dream for any cook. Spacious and practical, it features gleaming granite countertops, stainless steel appliances, a roomy pantry, and ample prep space to make all your favorite dishes. Laminate floors flow through most of the main level, adding a sleek, low-maintenance and durable touch. The primary bedroom is a true retreat, with its private ensuite and plenty of closet space. Two additional bedrooms and a second full bath complete the main level, giving everyone room to relax and unwind. Head downstairs to the finished partial basement, where a large rec room awaits. This versatile space, complete with a half bath, can be used as a home office, playroom, or extra entertaining area-whatever suits your lifestyle! A door leads directly to the fully fenced backyard, where you'll find space to run, play, or just kick back. Gather around the firepit for bonfires, grow your own veggies in the raised garden beds, or enjoy the large lawn for summer gatherings. The detached two-car garage offers extra storage for tools, toys, or sports gear, keeping everything you need organized. And the neighborhood park is just a short stroll away-perfect for playtime or an evening walk. Petite Lake Park HOA offers dock and dock permits along with a boat launch and a small beach with a pier to enjoy Petite Lake. Enjoy all the trails for hiking and biking through local Lake County Forest Preserves. Easy access to Metra to Chicago, Navy Base, and shopping in Round Lake, Antioch, and Fox Lake! This is a gem. Call to schedule your appointment today! Escape the city life with a quaint second home with lake access! Investors this is highly rentable!!
Source: MRED #12200237
Interest rate and monthly payment estimated based on public records.
Source: MRED #12200237
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: #12200237
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.