510 Midlane Dr, Crystal Lake, IL 60012
4 beds · 3 baths · 4,892 sqft
This entire home was updated in 2024 with new kitchen cabinets, quartz countertops, tile backsplash, all new stainless steel appliances, new laminate luxury vinyl flooring throughout, stamped concrete driveway, and porcelain or ceramic tile in all renovated bathrooms. Nearly 4,000 square feet of finished living space once the full basement is complete, giving you plenty of room to entertain friends and family. Enter through the front foyer that is connected to the family room greeted with an abundance of natural light from the bay window and an open layout connecting to the dining room and kitchen. The fully updated kitchen overlooks into the living room that has a cozy brick fireplace. New granite countertops and tile backsplash installed in the first floor bathroom which is across the hall from the laundry room. The second floor has a spacious primary suite with vaulted ceilings, a walk-in closet, and a gorgeously updated primary bathroom with a walk-in shower, separate soaking tub, and dual vanity sinks. The other 3 generously sized bedrooms have been freshly painted with all new recessed lighting and new luxury laminate flooring, conveniently adjacent to an additional full bathroom that has also been completely updated with new tile, vanity, shower, and waterfall shower head. Potential to add a 5th bedroom in the basement as it has an egress window and is already partially framed out for a room. New A/C in 2020, new roof in 2018, and rebuilt deck railings. There is also a 220 volt/50 amp outlet in the garage for an EV charger. The lot itself feels much more spacious as it connects to open property within Veteran Acres Park, with access to miles of paved walking paths and is down the street from the private Woodland Estates Park that is equipped with basketball courts, tennis courts, volleyball courts, and a playground. Within the award winning Prairie Ridge High School District
Source: MRED #12210183
Source: MRED #12210183
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 30-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: #12210183
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.