4201 S Francisco Ave, Chicago, IL 60632
6 beds · 2 baths · sqft
Get a free consultation call with an expert in the mortgage assumption process.
LOCATION-LOCATION!!! :ONE block to Archer Avenue and ONE CTA bus to the Loop and ONE block to Huntington Branch Bank and ONE block to Chicago Fire Station and ONE block to Zempky Department Store and ONE block to LaPalma Super Market and ONE block to Kelly High School. LOCATION- LOCATION!!! An Additional Dwelling Units (ADU) candidate is ONE block from Archer Avenue and CTA Bus to Downtown.. This Brighton Park two Flat has a very large walk-up attic and very high basement for ADU. This a brick two flat on a 30 foot corner lot with two car brick garage. This building was built by a builder in the 1920s with oak floors and trim. Each apartment has six rooms and three bedrooms. Kitchens have been up-graded. A great opportunity for additional units when ADU is approved for the ward. Agent owned. Second floor apartment is vacant. Location, Location, Location.
Source: MRED #12211495
Source: MRED #12211495
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.