445 N Jonathan Dr Apt 205 # 205, Palatine, IL 60074
1 beds · 1 baths · 0 sqft
This beautifully renovated condominium offers a spacious and modern living environment. The open floor plan is surprisingly large and features elegant 42-inch walnut cabinetry and granite countertops. The interior is enhanced by mahogany laminate flooring throughout, adding warmth and sophistication. The contemporary bathroom boasts a stylish glass bowl vanity and modern light fixtures and tasteful tile surround tub. The generous walk-in closet and large bedroom provide exceptional comfort and storage. White trim and doors throughout. White dual pane windows and window coverings. Rarely found at this price point, convenient in-unit washer and dryer. Checkout the floorplan photo to see the extra in unit storage. Enjoy the expansive balcony/patio with a delightful pool view, perfect for relaxation and entertaining. Residents also benefit from access to a well-equipped exercise room, a serene courtyard, and a complimentary dog trail. Conveniently located close to transportation and shopping. The low association covers essential utilities, including heat, cooking gas, and water, ensuring a hassle-free living experience.
Source: MRED #mrd12150659
Source: MRED #mrd12150659
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: #mrd12150659