5930 S NARRAGANSETT AVE, Chicago, IL 60638
Beautifully updated & spacious 3 bd/2.2 bth split level with sub basement in great location! There has been so many meaningful updates that this home is truly move-in ready. The moment you enter the front door you are greeted by an oversized, open concept living room and dining area with plenty of natural light and beautiful hardwood floors. The spacious kitchen opens up to the dining area and has a new dishwasher (2023). Upstairs, you'll find your private Primary suite including an en-suite and walk-in closet with a custom organization system. There is also a half bath on the second level. On the lower level, you'll find the two other bedrooms and another full bath. Head downstairs to the finished sub-basement for even MORE living space, perfect for a home theatre, game room, workout room or whatever suits your needs. The possibilities are endless! The basement also has the spacious laundry room, a crawl space for storage and an updated half bath. Outside, enjoy your beautifully landscaped backyard with a cedar privacy fence that was installed in 2021. Detached 2.5 car garage. Updates include the Primary suite renovation in 2020, new Rheem furnace & AC in 2024, exterior perimeter WiFi mood lighting in 2023, wood-like porcelain tile flooring in basement in 2023, 100 amp electrical panel replacement and drywalled garage. Minutes to Midway, major highways, public transit, groceries, restaurants and more, you truly can't beat this home or it's location! Easy to show, schedule your tour today!
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
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.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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: #mrd12141748