749 W St Johns Pl, Addison, IL 60101
3 beds · 3 baths · sqft
Get a free consultation call with an expert in the mortgage assumption process.
Spacious 2-story townhome located in highly sought after Towne Square Subdivision of Addison. Upon entering, you are greeted with an open floorpan layout, light and bright windows with serene views, high vaulted ceilings and a cozy gas/wood burning fireplace. Enjoy the first floor master suite with walk-in closet, separate full bathroom with double sinks and soaking tub, and laundry room. There is another full bathroom off the first floor office/den. Kitchen with table space and a door that leads to a cozy deck that cuts through to the first floor master bedroom. The second floor features large shared bathroom with double sinks and large bedrooms with walk in closets. Unfinished basement with sliding door that opens to the backyard. Attached 2-Car garage. Bring your updates and finishing touches.
Source: MRED #12258344
Source: MRED #12258344
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 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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.