8051 LEAMINGTON AVE, Burbank, IL 60459
***Buyer's Financing Fell Through 1 Week Before Closing, New Buyer Opportunity! FHA Approved & Can Transfer File/Appraisal For A Quick Close!! Clean Home Inspection For New Buyer. Clean, All Inspections Passed, Survey Completed, & Move In Ready***Welcome Home To This Lovely Completely Updated Cape Cod Home With Tons Of Space & Ready For Your Summer Fun In The Pool! Located Within Walking Distance To The Schools, This Home Will Check Off All Your Boxes; Step Into The Front Foyer To A Bright Living Room With New Wood Look Laminate Floors, White Trim & Freshly Painted / Updated Full Main Floor Bathroom with Tile Surround Tub, Glass Backsplash Behind New White Vanity & Updated Floors / Separate Dining Room With Custom Wood Blinds / Kitchen Updated in 2024 with Painted White Cabinets, New Fixtures, Stainless Steel Dishwasher, Microwave & Convection 5 Burner Stove, Brand New White High-End Smart Refrigerator, & Glass Backsplash / Separate Laundry Room with Tons of Cabinets, Utility Sink, & Newer Washer Dryer Included / French Doors To Primary Suite Bedroom; Cozy Wood-burning Fireplace, Double Mirrored Closets with Organizers & Separate Backyard Access To Private Patio Area / 2nd Bedroom on Main Level / Upstairs Has 2 Bedrooms With Lovely Light Wood Look Laminate Flooring, New Doors, Updated Full Bathroom With Tile Surround Stand Up Shower & New Vanity / Newer Doors, Wood Blinds & All Fixtures Throughout Home / Security Cameras Stay / Hot Water Heater 2013 / Roof & Siding on House, Garage & Sheds 8 to 9 Years Old / Updated Electrical Panel / New Sewer Clean Out in Front Yard / Large Fenced In Backyard Oasis with Above Ground Pool, Patio With Fire Pit, Heated Dog House, 2 Large Sheds with Electric, 2.5 Large Detached Heated, Electric & Natural Gas, Garage with Updated 220 Electric, Work Benches, Above Attic Storage & 2 Overhead Garage Doors (front & back) / Metal Gazebo with Brew Lights Stay & Concrete Grill Patio With Gazebo Stay / Fit The Whole Family In This Long 3 Wide, 8 to 10 Car Driveway! The List Goes On & On ~ Check This One Out Before Its Too Late!
You may be able to put down less than the total down payment amount of $161,144 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: #mrd12083476