7440 N Hermitage Ave Apt 3g # 3G, Chicago, IL 60626
1 beds · 1 baths · 800 sqft
Top floor condo in East Rogers Park! If you enjoy long walks on the beach at sunset, bright sunny unit with an extra large bedroom to accomodate a home office, large kitchen for making your favorite meals, accessibility to grocery and transportation, living in a historic building with modern amenities like in unit laundry, this is the perfect home for you! Located in beautiful, gated, courtyard building that was gut-rehabbed in 2003. You're just around the corner to Jewel Osco, parks, and the CTA Red Line! Be minutes to downtown Chicago and Evanston. Unit is well kept, newly painted, with hardwood floors, gas fireplace, tall windows. The spacious kitchen has lovely 42 inch cherry wood cabinets that offers tons of storage, large window with natural light streaming in, granite counters, and room for a dining table! The extra long bedroom has room for a small office space or nursery. Bran (2020) front loading washer and dryer. Pets allowed, and rentals (with a waiting list). Assigned storage in the basement included. Available rental parking at Gateway Plaza 7474 N Rogers or street parking on Paulina, Calrk and Rogers. Building has newer roof. Maybe FHA eligible through single unit approval process.
Source: MRED #12182949
Source: MRED #12182949
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: #12182949
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.