7210 S Michigan Ave, Chicago, IL 60619
4 beds · 4 baths · 2,200 sqft sqft
Nestled on a bright and airy tree-lined block in Chicago you'll find this gigantic 4 bedroom 3.5 bathroom single family waiting for its new owners. This spacious property has an open main floor which is an entertainer's dream. Large windows allow for tons of natural lighting to flow into the space and bounce off the finished hardwood flooring. A decorative tile accent wall makes for the perfect place to mount a large flat-screen television. TV not quite your thing? that's okay too, because this home features a floor-to-ceiling projector screen. The chef's kitchen has been outfitted with designer soft close-shaker cabinetry and marble countertops with stainless steel appliances. This main level wouldn't be complete without a decorative powder room and flex room that can be used as a home office, cigar room, or wine cellar. You also get direct access to the oversized backyard and parking slab to bring the party right outside to your deck. Upstairs, you'll find two bedrooms and a full bathroom with a bathtub, designer tile and storage vanity. The secondary bedrooms are ample in size with great closet space. The primary suite is truly a world of its own. This huge bedroom not only has ample space for a king-sized bed but additional space for a seating room, mini-nursery or build-out the space to expand on the already present walk-in closets. The primary bathroom features an oversized shower with digital controls and floor-to-ceiling decorative tile. Head down to the basement where you will find an additional room for entertainment or the perfect place to set up a bar. There's one more spacious bedroom on this floor along with a full bathroom, laundry room, and utilities. The entire home has been recently rehabbed less than 2 years ago so a buyer can truly settle right into this turn-key masterpiece. Properties like this down come around often, schedule your showing TODAY!
Source: MRED #12201485
Interest rate and monthly payment estimated based on public records.
Source: MRED #12201485
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
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.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
MLS ID: #12201485
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.