750 W Tess Ln, Round Lake, IL 60073
5 beds · 3 baths · sqft
Do not miss this absolutely stunning 5 bedroom home with perfect layout in Fremont School District. At 4,105 SQFT this is the largest home in the subdivision and boasts PREMIUM FRONT AND REAR VIEWS of the pond and open field! Guests are first welcomed past the formal living and dining rooms. The huge eat-in kitchen offers plenty of cabinet storage, counter space, a large pantry, and the sliding glass door with transom window overlooks the beautiful back yard. The kitchen half wall gives the spacious living room a nice open layout while also providing separation for furniture placement. The main floor also features a bedroom and full bathroom, perfect for guests or family members who may have difficulty with stairs. In addition to the second floor's large bedrooms and convenient laundry room, a big loft area offers an additional space for leisure and play with an awesome rear view. The huge master bedroom features a vaulted ceiling, additional sitting area, two walk-in closets, and separate tub/shower in the bathroom. The full basement provides all the storage you'll ever need and is roughed in for a bathroom if you decide to finish it. This home has been meticulously maintained with recent updates including roof, multiple windows, basement and attic insulation, water heater, kitchen flooring and quartz countertops, toilets, fence, and crown molding. Professionally landscaped, recessed lighting, updated fixtures, crown molding, wooden blinds, ceiling fans throughout, zoned HVAC with humidifiers, outdoor irrigation sprinkler system, and radon mitigation system. You will not be disappointed! 2023 taxes are 0 because seller has homeowner, senior and disabled vet tax exemptions. Based on the Total Assessed Value in the 2023 tax bill X the tax rate, the taxes with NO exemptions would be approx. 12,782 and approx. 12,363 with homestead exemption.
Source: MRED #12148954
Interest rate and monthly payment estimated based on public records.
Source: MRED #12148954
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: #12148954
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.