565 W Quincy St # 1304, Chicago, IL 60661
1 beds · 1 baths · 795 sqft sqft
Discover unparalleled comfort and convenience in this spacious one-bedroom unit, perfectly situated in the vibrant center of the city. Boasting an exceptional open floor plan, this residence features newly installed carpet in the bedroom and fresh paint throughout, creating a bright and inviting atmosphere. Enjoy modern living with the added convenience of an in-unit washer and dryer, and unwind on your private balcony, which offers breathtaking panoramic city views. The luxurious bathroom is designed for relaxation, featuring a double vanity and a separate shower and tub. The building itself is a full-service gem, offering a wealth of amenities to enrich your lifestyle. Benefit from the security and service of 24-hour door staff, stay fit in the well-equipped fitness center, or soak up the sun on the sundeck with stunning views. For entertainment, indulge in the extraordinary game room, complete with a bowling alley, pool tables, foosball, ping pong tables, a movie theater, and a kitchen area perfect for hosting gatherings. Located on a tranquil street, this building provides a serene escape while being just steps away from grocery stores, shopping, renowned restaurants, and all the excitement Chicago has to offer. Union Station is also conveniently close, making commuting a breeze. This unit is more than a home-it's a lifestyle. Don't miss the chance to experience city living at its finest! Nearby rental parking options available! ***Secure this home's 3.5 assumable mortgage, save thousands annually, and close in 45 days when you work with Roam. Inquire with the listing agent for more details.
Source: MRED #12203985
Interest rate and monthly payment estimated based on public records.
Source: MRED #12203985
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: #12203985
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.