610 N Main St, Le Roy, IL 61752
4 beds · 2 baths · 1,198 sqft
Welcome to 610 N Main St in Le Roy sitting on 4 lots combined into 1 parcel. This 1884 home has been well maintained over the years. The main floor has tall ceilings giving you that feeling of extra space. The enclosed and heated front porch is perfect for a den or office bringing in a lot of natural light. There is a 4th bedroom on the main, currently being used as an office. It has sliding double closet doors and laminate wood flooring. The spacious living room has a gas fireplace perfect for those cold wintry nights. Stroll into the kitchen where you will find wood cabinets, laminate countertops, breakfast bar, and an island with butcher block countertop. There is a full bath on the main floor with dual sinks. Upstairs are the remaining 3 bedrooms and another full bath. All appliances are sold As-Is. Fireplace is sold As-Is. Updates include water heater (2018), furnace (2023), central air conditioner (2023), water filtration system (2023).
Source: MRED #12315726
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12315726
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.