4814 Summerhill Dr, Country Club Hills, IL 60478
4 beds · 3 baths · 3,149 sqft
Your dream home is here in the secluded subdivision of Churchill Downs of Country Club Hills! Your sweat equity and creativity will go far in this spacious four bedroom plus office, two and a half bath with 3 car garage luxury home boasts elegance and class, perfect for those who want to indulge. Stunning and grand two-story foyer with ceramic tiling. The foyer leads to a beautiful living room with soaring ceilings, hardwood flooring, and a cozy fireplace, perfect for hosting guests or relaxing. Modern kitchen with stainless steel appliances, a center island with granite countertops. Four additional bedrooms offer ample space for family, guests, or a home office. Primary bedroom has attach den and primary spa bath. Unfinished basement with great space and ceiling height offers the opportunity to be an at home office while the surrounding space can accommodate entertainment, game room or work out space. Step outside and enjoy the big backyard that large enough to build your custom patio area with ample space for grilling, entertaining, or simply relaxing. Step outside and enjoy the big backyard with double deck with ample space for grilling, entertaining, or simply relaxing. This home is located in the highly desirable Country Club Hills, offering an unbeatable community with easy access to country clubs, golf courses, minutes from fine dining, and shopping. ** Property sold as-is. ** Home does need repairs throughout and price is accordingly. **
Source: MRED #12314392
Financials
Source: MRED #12314392
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.