8151 S Jeffery Blvd, Chicago, IL 60617
4 beds · 3 baths · sqft
This solid brick, recently rehabbed 4 bedroom home is ready for a new owner! Handsome wood floors greet you as you enter the formal living room, a great space for unwinding with a good show or welcoming guests over. Just down the hall is the updated kitchen featuring stainless steel appliances set in modern maple cabinetry and finished with high quality quartz countertops - a perfect setting for your next gourmet meal, conveniently served in a spacious eat-in room near the back porch. Before you head outside, check out the first floor master suite, with hardwood floors, walk-in closet, and a beautiful updated bathroom. Out on the spacious deck, enjoy a private conversation or spread out into the lawn for your next party! Upstairs we have three more bedrooms, lightly used since their last rehab and ready for your family, guests, or even a home office - all share a second full bathroom, also including a full body jet in the shower. The basement provided even more living space, finished and ideal for a family room, rec room, overflow space - it's is very flexible and ready for anything. The two car garage solves all of your parking issues, and gives you the option to drive or use public transportation to get anywhere you want to go from this central location. New within 7 years: Furnace, AC, electrical, plumbing, water heater, and garage. This is a tremendous value - come see this one soon!
Source: MRED #12215282
Interest rate and monthly payment estimated based on public records.
Source: MRED #12215282
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: #12215282
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.