411 W ONTARIO ST APT 414 # 414, Chicago, IL 60654
Take a 3D Tour, CLICK on the 3D BUTTON & Walk Around. Welcome to Ontario Street Lofts - your ideal urban retreat! This beautifully renovated 2-bedroom, 2-bathroom condo in River North combines luxury with convenience, offering a move-in-ready home in a prime location close to everything. As you step inside, you'll be captivated by the soaring ceilings and stunning refinished hardwood floors that extend throughout the home. The expansive and open living area provides ample space for furniture and a separate dining area, all seamlessly connected to a designer kitchen. The Chef's kitchen boasts a spacious breakfast bar with room for seating, quartz countertops, and stainless steel appliances. The primary suite is a sanctuary with a large walk-in closet and an ensuite bath. The second bedroom is fully enclosed, and the second full bathroom is ready for you to settle in. Cozy up in front of the wood-burning fireplace or step out onto your newly restored balcony for breathtaking views of the city skyline. Additional seller upgrades include custom closet organizers in the second bedroom, front hallway closet, and pantry, a built-in desk in the second bedroom, modern tiling around the fireplace, and an in-unit washer/dryer. Basement storage is included in the price, and garage parking is available for an additional $35k.The building's amenities include a common rooftop with a sundeck, chaise lounges, BBQs, and outdoor furniture perfect for entertaining. Residents also enjoy a 24-hour doorperson, on-site gym and yoga room, bike rooms, receiving room, and on-site management. Located just steps from Kingsbury Park, the Chicago Riverwalk, restaurants, nightlife, and shopping, this River North gem offers the best of urban living. Don't miss out on this incredible opportunity!
You may be able to put down less than the total down payment amount of $63,952 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #mrd12164944
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.