4323 SCHOFIELD DR, Oswego, IL 60543
Beautiful home in highly desired Hunt Club Subdivision. This home has been lovingly cared for and has upgrades throughout. As you enter into the foyer you will love the open floor plan and the beautiful plank vinyl flooring that runs throughout the main level. The living room is adjacent to the foyer and the perfect place to welcome your guests. As you continue into the home you will enter the large eat in kitchen. This kitchen is a cooks dream with an abundance of cabinet and counter space including a large center island. The counters are all granite and the kitchen has newer SS appliances. The kitchen is open to the large family room. There is also a sliding glass door in the kitchen that leads to a brick paver patio with gazebo, the perfect place to relax after a long day. The back yard is HUGE and very well landscaped. It offers both privacy on the patio and tons of room to play! Upstairs you will find 4 bedrooms, 2 full bathrooms and the laundry room - no more hauling laundry up and down the stairs! So convenient. This home also has an EXTRA DEEP garage!! The furnace and A/C are approx. 3 years old, the washer and dryer are approx. 2 years old, the sump pump was replaced approx. 5 years ago, the roof is approx. 6 years old and the kitchen appliances are approx. 5 years old. New carpet and paint this year! Located just a block from the school and just minutes to town, shopping, dining........
You may be able to put down less than the total down payment amount of $210,624 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: #mrd12122034
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.