4523 Skylark Ln, Plainfield, IL 60586
3 beds · 3 baths · sqft sqft
Welcome to your new home in the desirable Pheasant Landing in Plainfield! This warm 3 bedroom, 2-and-a-half-bathroom home welcomes you upon entry as you step inside to your 2-story entry foyer with a charming, open staircase that leads you to your formal living and dining room with vaulted ceilings. Your large "eat-in" kitchen has plenty of cabinetry and spacious counter space and features a sliding door to your backyard, entertaining space. Extending off the kitchen you will feel the warmth of the cozy family room, featuring a fireplace and the convenience of a half bathroom. Your large fenced in backyard features an above ground pool and concrete patio. This home has a full basement, and the potential for expansion, that is awaiting your ideas. Upstairs you will find the owner's suite with walk in closet and private bath. Additionally, there are 2 generous sized bedrooms and another full bathroom upstairs. Main floor laundry right off the garage. Roof completely redone in 2019! Situated in the esteemed Plainfield School District and strategically positioned near major expressways, this residence offers not just comfort but also accessibility. Enjoy the best of both worlds being conveniently situated to shopping and highways as well as nature being close to forest preserves, dog parks, and the picturesque DuPage River.
Source: MRED #12120950
Interest rate and monthly payment estimated based on public records.
Source: MRED #12120950
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.
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: #12120950
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.