4316 N Menard Ave, Chicago, IL 60634
5 beds · 3 baths · 2,000 sqft sqft
This elegant five bedroom Chicago bungalow in *prime* Portage Park is traditional on the outside but shiny and new on the inside and upgraded with bells and whistles at every turn! Enjoy an abundant living, dining and kitchen configuration that is centered by a show stopping staircase. Kitchen is spacious and open with a delicate use of the popular gray, brown and white color scheme. Of course, the appliances are all brand new... Custom designed mudroom meets the space and is perfect for unloading after you park in the two car garage. Find two bedrooms on the main level, three bedrooms upstairs and one bedroom in the lower level! This home is larger than it appears from the street. Luxurious spa-like primary bathroom with double bowl sink and LED mirror. There are heated floors in two of the three bathrooms. The lower level offers notable ceiling height without a drop ceiling. Mini split systems are found in every room for your heating and cooling which provide extreme efficiency and the capacity to regulate different spaces. There are also many USB outlets and individual controls for fans/lights and the only component on your gas bill will be the hot water heater. Home is clad with NEW James Hardie board exterior siding and a fully-fenced yard. All you need to do is move right in and enjoy calling 4316 N. Menard home.
Source: MRED #mrd12182470
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12182470
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.
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: #mrd12182470
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.