727 GARFIELD AVE, Aurora, IL 60506
Discover this spacious home built in the 1900s, offering 4 bedrooms, 1 full bath, and 2 half baths. With its bright interiors and charming character, this property beautifully blends historic elegance with modern living. Be greeted by an enclosed front porch that leads to a welcoming foyer. To one side, you'll find a spacious dining room, while the other opens to a comfortable living room. The house also features a cozy sunroom at the front, perfect for relaxing with a book or enjoying a cup of coffee. The family room offers additional space for gatherings, and the kitchen is complete with a breakfast nook for casual dining and a coffee bar for your morning routine. Upstairs, you'll discover 4 spacious bedrooms, each showcasing the home's classic hardwood floors-except for one room, which adds a unique touch. A full bathroom on this level ensures convenience and comfort for everyone. As a bonus, the 3rd-floor attic space offers endless possibilities. Whether you envision it as a home office, playroom, or additional storage, this versatile area adds significant value and flexibility to the home. Outside, enjoy the convenience of a 15x30 above-ground pool, one-and-a-half-car garage and a fenced-in yard, perfect for outdoor activities and gatherings. Located in the heart of a well-cared for neighborhood, the home is just blocks to Aurora University, schools, parks, the Paramount Theatre, restaurants & shopping. Schedule your showing today! Property is being sold AS IS.
You may be able to put down less than the total down payment amount of $171,612 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: #mrd12089434
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.