4918 N Kruger Ave, Chicago, IL 60630
7 beds · 4 baths · sqft sqft
**Tall and handsome multi-unit in a prime location!** This charming and updated 2-flat offers spacious living with a finished attic and basement, providing flexible extra living space and a great income. The sunny second-floor 2bed/1bath unit has fantastic short-term rental potential, with an in-unit washer/dryer, beautiful wood floors and built-ins, and a lovely balcony with a new patio door. It can expand to the finished independent attic studio creating a huge 3 bed/2 bath apartment. The first-floor unit is an updated 2-bedroom 1-bath unit with a spacious kitchen and a bright living room with big windows and refinished wood floors. The basement is a lovely big in-law apartment perfect for an extended family that can be duplexed with 1st floor to become a huge owner or rental unit with 4 bedrooms, an office, and 2 full baths. The property includes a fenced-in yard and a 2-car garage with a new opener (installed 6 months ago) and an expensive EV charging station-an excellent modern upgrade. Additional highlights include a new tankless water heater, new electrical panels (2019), and a new heating system for the entire building. Separate forced-air heating and waterproof flooring were added in the basement (2019-2020). The yard is equipped with two new sump pumps. The roof is approximately 8-10 years old. Security cameras are included for peace of mind. This is a fantastic opportunity for both investors and owner-occupants seeking space, versatility, and modern amenities in a wonderful neighborhood.
Source: MRED #mrd12191517
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12191517
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.
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: #mrd12191517