52 Hickory Ln, Cary, IL 60013
3 beds · 2 baths · 1,357 sqft sqft
Welcome to Bright Oaks subdivision in Cary! Perfectly located with easy access to town, the Metra, dining & shopping, this 2 story town home with 1st floor bedroom and full bath, allows for convenient one level living or flex use as a home office, den, or guest bedroom. In addition, the spacious living room features a vaulted ceiling and plenty of room for entertaining. The updated kitchen includes maple cabinets, granite-look counters and a ceramic tile floor. There is plenty of room for a full size table and chairs and the sliding glass door leads to a patio that extends your entertaining space. Upstairs, a loft overlooks the vaulted living room and you will also find 2 nicely sized bedrooms plus another full bath. A large walk-in closet with attic access provides more storage space and the 1 car detached garage can house a car plus additional storage. New furnace, S/S refrigerator, and wood laminate floor on 1st floor added in 2022, new water heater 2024. In addition, Bright Oaks residents enjoy a naturally wooded area with access to an outdoor pool, clubhouse, park and playground!
Source: MRED #12202325
Interest rate and monthly payment estimated based on public records.
Source: MRED #12202325
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: #12202325
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.