5711 Wild Ash Ln, Crystal Lake, IL 60012
3 beds · 2 baths · 1,918 sqft
Discover the charm of this custom-built Crystal Lake ranch, perfectly situated on a beautifully landscaped corner lot spanning over an acre and backing up to mature trees. The owner has meticulously maintained and thoughtfully updated this 3-bedroom, 2-bathroom home, which boasts numerous upgrades. New windows were installed in 2019, along with a new roof, gutters, and trim in 2020. The home features stunning Brazilian chestnut flooring and upgraded trim throughout. The living room, with its dramatic ceilings and large windows, opens into a dining room, creating a spacious and inviting atmosphere. The beautifully updated kitchen offers custom cabinets with under-cabinet lighting, solid surface Corian countertops, newer stainless-steel appliances, and ample counter space. The great room, with its cathedral ceiling, wood beam, and brick fireplace, creates a breathtaking centerpiece for the home. The master bedroom includes a walk-in closet and a full private bath with a large vanity, conveniently situated across from two additional bedrooms and a second full bath. Relax in the screened-in porch overlooking the serene yard with mature trees, or enjoy extra entertainment space in the finished basement, complete with a pool table and ample storage. A covered front porch and attached two-car garage enhance the home's curb appeal. Additional updates include a sump pump and ejector pump installed in 2019, new bathroom venting, newer lighting, and a furnace and water heater that are less than ten years old. Part of the highly rated Crystal Lake schools and just minutes from downtown Crystal Lake, the Metra station, and nearby shopping, dining, and recreational opportunities, this exceptional home is not to be missed!
Source: MRED #12261217
Interest rate and monthly payment estimated based on public records.
Source: MRED #12261217
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: #12261217
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