6951 LEXINGTON CT, Tinley Park, IL 60477
Beautiful 2-story townhome with private entry and a front-load 2-car attached garage. Serving the community throughout his career, this owner had a passion for Tinley Park and took pride in his residence. The covered front porch opens to an intimate sitting area where you can greet guests and share a cool beverage. The formal dining room boasts a decorative ceiling and is a perfect setting for holiday gatherings. Adjacent living room with soaring ceiling and fireplace for more casual entertaining. A large kitchen with plenty of cabinetry and 2 double-door pantries will ensure there is room for all your essentials. Separate eating area with even more cabinetry and a planner's desk. Step out to the expansive raised deck. An upper-level loft with a wall of built-in shelving once housed a collection of stories and ideas that were enjoyed before slumber. Bring your favorite novels as yours would make a great library, office, or family retreat. Tuck in awaits in the 2 spacious bedrooms, each with a private bath. Convenient main level laundry simplifies daily chores. Finished lookout basement with recreation area, a utility room, a full bathroom, and a third bedroom. Whether a man cave, tween hangout, or related living, the space can be utilized to fit your needs. Gorgeous Tinley Park open space views from the upper and lower decks in your backyard! Still plenty of grassy area remaining. A seller with a vision and purpose, it is no surprise that every square foot of this home has possibilities. Bring your creativity as you excite at the potential for this unique entry to a flexcore-constructed bonus room under the garage. Brilliant use of space and ready for your new beginnings! All the comforts of a single-family home with maintenance-free landscaping and snow removal. You too can relish in all of Tinley Park's many amenities, convenient expressways, and public transportation. Ready to be cherished by the next proud Tinley Park resident! Offered AS/IS, Estate Sale.
You may be able to put down less than the total down payment amount of $124,381 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: #mrd12165548