6200 W 94TH ST, Oak Lawn, IL 60453
Does Size Matter? Discover Your New Super Spacious Home in the Heart of Oak Lawn. Welcome to this stunning Raised Ranch with modern finishes and hardwood floors throughout the main level, perfectly situated on an OVERSIZED *.26-acre* CORNER lot. This residence seamlessly combines space and convenience, making it an ideal choice for modern living. The main level features FOUR well-appointed bedrooms and TWO stylish FULL bathrooms. Perfect for a growing family or mothers who prefer to have all the kids on the same level. Work from home? The well light 4th bedroom overflowing with natural light is the ideal space. Unless you prefer more privacy, then the 5th bedroom in the LL is the alternative choice. We can't say enough about the inviting living room, separate dining area, and the modern eat-in kitchen complete with stainless steel appliances and pantry. Descend to the versatile basement with a huge recreation area, a 5th bedroom and THIRD full bathroom. Whether you need a work-out room, yoga studio or a guest room, the fifth bedroom is simply a MUST HAVE. And who doesn't need an attached two-car garage on a rainy or snowy day? The garage is conveniently accessible through a door just off the kitchen, making it incredibly easy to load and unload groceries. The expansive corner lot provides ample outdoor space for both recreation and relaxation. This prime location offers easy access to I-294, as well as nearby shopping at Jewel Osco and Tony's Fresh Market, schools, and restaurants. Plus, you're less than a mile from the Oak Lawn Park District and within close proximity to Harnew Elementary School, Simmons Middle School, and Oak Lawn Community High School. Don't miss out on this exceptional opportunity to own a beautiful home in a sought-after neighborhood. NOTICE: Property Taxes do not reflect a Homeowner's Exemption.
You may be able to put down less than the total down payment amount of $73,041 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
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: #mrd12109454