7732 W Columbia Ave, Chicago, IL 60631
4 beds · 3 baths · 2,800 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome home to this beautiful recent gut renovation with second story addition! Home is situated on a 33' lot in a fantastic Edison Park location. Lives like new construction with most major components including plumbing, electrical, windows, roof and HVAC new with the renovation. First floor has living and dining room combo with hardwood floors throughout. Chef's kitchen with 42" custom cabinetry and breakfast nook, high end appliances including 36" oven with pot filler, and quartz countertops. Kitchen flows into the spacious family room featuring an automatic gas fireplace. A main level bedroom and a full bathroom complete the first floor. Custom crown molding and wainscoting throughout the main level and all common areas. Plantation shutters throughout the first floor. Upstairs features three spacious bedrooms. Primary bedroom has vaulted ceiling and boasts oversized walk-in closet with custom shelving. Primary bath features designer finishes, heated floors, dual vanity, and walk in shower room. A hall twin bathroom with heated floors and laundry complete the second floor. Large finished open space in the basement is perfect for rec room, play room, or home gym. Storage and additional laundry round out the basement. Temperature controlled attic great for storage. In the backyard you will find a large covered porch and paver patio perfect for outdoor entertaining. The entire property has brand new sod. Two and a half car garage with end of alley access! Two-minute walk to Edison Park Metra and downtown Edison Park dining and shopping. Steps away from Monument and Olympia Parks. Walkable to uptown Park Ridge and close I-90 and I-294 expressways. You won't be disappointed. Schedule your showing today!
Source: MRED #12341260
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12341260
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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 committed to and abides by the Fair Housing Act and Equal Opportunity Act.