6n748 Illinois St, Saint Charles, IL 60174
3 beds · 2 baths · 1,497 sqft
Get a free consultation call with an expert in the mortgage assumption process.
This wonderfully remodeled St. Charles gem won't last long! With a beautiful interior and newer roof, gutters, windows, and HVAC, this house is truly move-in ready! Fantastic kitchen with granite countertops, custom Lyptus cabs, stainless-steel appliances, and new flooring! Completely remodeled bathrooms! Enjoy time outside in the spacious backyard overlooking the forest preserve-- the huge paver patio makes it perfect for hosting a gathering! Hop on the Fox River Trail, mere feet from the home, and take a bike ride over the Fox River! The home is perfectly located --just a 2 minute walk to the River Bend Community Park, a 2 minute drive to the elementary school, and a 2 minute drive to Route 25. Come see this before it is gone!
Source: MRED #12323534
Source: MRED #12323534
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 and Equal Opportunity Act.