402 Hatlen Ave, Mount Prospect, IL 60056
4 beds · 2 baths · 2,477 sqft
Get a free consultation call with an expert in the mortgage assumption process.
***Property qualifies for FHA assumption of loan with interest of 3.45 percent. PLEASE speak with your lender or ask for details. Welcome to this beautifully maintained 4-bedroom, 2-bath home in the highly sought-after Mount Prospect Colonial Heights! This home boasts an updated kitchen with sleek countertops, modern cabinetry, and stainless steel appliances and an island-perfect for any home chef. First floor bathroom has been tastefully updated with new jacuzzi tub, vanity and tiles ensuring style and convenience. Enjoy the warmth of hardwood floors throughout the first and second floors, adding character and elegance to the formal dining room, cozy living room, and inviting family room ideal for gatherings. The home features energy-efficient vinyl windows, enhancing natural light while improving insulation. A three-season room offers a tranquil retreat, extending your living space and providing scenic views of the huge backyard, perfect for outdoor entertaining, BBQ or kids sports. The partly finished basement adds extra versatility, offering additional space for recreation, a home office, or storage and remaining part of the basement can be used as storage, gym, an office or even theater room. Located in a fantastic neighborhood, this home is just minutes from top-rated Mount Prospect schools, Randhurst Village for shopping and dining, and the Metra train station for easy commuting. Enjoy the nearby Mount Prospect Golf Club, the beautiful Lions Park, and the Prospect Heights Bike Trail for outdoor enthusiasts. Plus, you'll love the proximity to Melas Park, which features sports fields, walking paths, and community events, Clearwater part for tennis, pickleball, kids playground, Carefee park for basketball, in roller hockey, soccer and Prairie park with multiple baseball diamonds, soccer fields and another kids park, all walking distance from the house. O'Hare International Airport is also just a short drive away, making travel a breeze. Don't miss the chance to call this gem your home. Schedule a showing today!
Source: MRED #12340577
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12340577
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.