411 N Cardinal Ave, Addison, IL 60101
4 beds · 4 baths · 3,070 sqft sqft
Experience luxury living in this immaculate, custom-built Fredrickson ranch, spanning over 3,000 sq. ft., nestled in the serene, wooded White Oak Estates. This home, meticulously updated and completed in May 2020, features 4 spacious bedrooms and 3.5 baths. The 4th bedroom, with its own updated full bath, is ideal for an in-law suite. The heart of the home is the chef's dream kitchen, showcasing an 8 ft. quartz island/breakfast bar, sleek white cabinetry, stainless steel appliances, quartz countertops, a large dining area, and wood veneer flooring. The entire home is beautifully finished in light grey tones, complemented by grey and white vanities, quartz countertops, and ceramic tile flooring in every bathroom. The master bath is a retreat, offering an oversized shower with a seat, double vanity sinks, and a generous makeup area. The two-tone wood veneer flooring flows throughout most of the home, leading to a large family room with a wood-burning fireplace that opens to a versatile 3-season room and a stunning yard. This home is packed with exceptional amenities, including oversized rooms, casement windows, a cedar closet, a walk-in pantry, abundant storage, a first-floor laundry room, a 4-year-old roof, new furnace, A/C, and a whole-house generator. The enormous basement features two crawl spaces and perma-sealed walls for added peace of mind and finish ability. The exterior of this all-brick home is equally impressive, with a concrete patio and a beautiful circular driveway, all set on a spectacular nearly half-acre lot.
Source: MRED #12184894
Interest rate and monthly payment estimated based on public records.
Source: MRED #12184894
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: #12184894
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.