4850 W 86th St # 1, Burbank, IL 60459
5 beds · 3 baths · 3,168 sqft
STEP INTO A WORLD OF COMFORT IN THIS COMPLETLY REMODELED 5-BEDROOM, 3-BATHROOM HOUSE WITH A FULL FINISHED BASEMENT! THIS HOME IS READY TO WELCOME THE HUSTLE OF FAMILY LIFE AS WELL AS THE PEACEFUL MOMENTS IN THIS QUIET AREA OF BURBANK; WITH AN IMPECCABLE BLEND OF MODERN UPDATES AND SPACIOUS LIVING. COME RIGHT INTO THE LIVING ROOM THAT WHISPERS RELAXATION, COVERED IN NATURAL LIGHT AND A COMFORTABLE LAYOUT THAT INVITES FAMILY GATHERINGS AND COZY EVENINGS. THE HEART OF THE HOME SHINES WITH AN UPDATED KITCHEN BOASTING TOP-OF-THE-LINE STAINLESS STEEL APPLIANCES AND SLEEK COUNTERTOPS; PERFECT FOR CULINARY EXPLOITS. RIGHT BY THE KITCHEN THERE'S A SITTING ROOM WHICH CAN BE YOUR BREAKFAST DEN, ARTS & CRAFTS ETC. EACH LARGE BEDROOM PROVIDES UNIQUE TRANQUIL SPACES FOR REST, THE 2ND FLOOR FOYER PERFECT FOR A GROWING FAMILY OR ACCOMADATING GUESTS. 2ND FLOOR DEN CAN BE A MULTI-PURPOSE ROOM, EITHER A PLAY ROOM, 2ND FAMILY ROOM, OFFICE, ETC. COME DOWNSTAIRS TO THE BIG & SPACIOUS OPEN BASEMENT, SET WITH A FAMILY ROOM & FULL BATHROOM, READY FOR YOUR INDOOR GATHERINGS RECREATIONAL ROOM OR ANY SETTING YOU PREFER; THERE'S PLENTY OF ROOM FOR A DINNING SET, GYM EQUIPMENT, POOL TABLE, ETC. NEWER WASHER & DRYER! 2 CAR GARAGE WITH ATTACHED STORAGE ROOM. THE BACK YARD OFFERS SO MUCH SPACE FOR YOUR OUTDOOR PARTY EVENTS AND PLENTY OF OFF-STREET PARKING FOR YOUR GUESTS! THIS GORGEOUS HOME IS SET IN A COMMUNITY CELEBRATED FOR IT'S OUTSTANDING SCHOOLS AND PROXIMITY TO AMENITIES SUCH AS ALDI, JEWEL OSCO, FAIRPLAY FOODS, WALGREENS, CVS, PNC BANK, US BANK, CHASE BANK, PANDA EXPRESS, LA FITNESS GYM, FORD CITY AREA SHOPPING CENTERS, OLIVE GARDEN, STRARBUCKS, TO NAME A FEW! NEARBY DURKIN PARK OFFERING LUSH GREEN SPACES FOR SPORTS, WALKS AND OUTDOOR FUN! THIS HOUSE ISN'T JUST A PLACE TO LIVE; IT'S A PLACE TO LOVE, GROW AND CREATE LIFELONG MEMORIES. DON'T MISS THE CHANCE TO CALL THIS HOME, LIFESTYLE & COMFORT. "YOUR HOME"! SOLD AS-IS. SELLER APPLIED FOR HOMEOWNERS EXEMPTION SO THAT THE NEW OWNE CAN GET THE HOMEOWNERS EXEMPTION MUCH SOONER! MAKE YOUR APPOINTMENT TODAY!
Source: MRED #12278394
Source: MRED #12278394
To qualify, you must meet the current FHA or VA 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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 “Save search” 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 620, 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.