827 Mulford St, Evanston, IL 60202

Endless Possibilities in the Heart of Evanston! Looking for a place that can be a home, an investment, or even both? This stunning vintage brick 2-flat property with a fully finished basement offers so much flexibility and potential for the right buyer. Located in Evanston, just a couple miles from parks and beautiful beaches, it's perfect for anyone wanting to enjoy the best of both suburban and city life. Picture yourself living here, with one unit to call your own and the option to rent out the other to help with the mortgage-or go all-in as an investment property with great income potential. The first-floor unit already has a fully rehabbed kitchen with modern appliances installed in early 2020, making it move-in ready. The finished basement adds more value, giving you extra space that could simply be a flexible area for guests, storage, or a workspace. The top unit still has a fantastic kitchen that's been well taken care of-it just needs a little TLC in other areas to really shine. With the right updates, this unit can easily become a standout feature of the property And here's some extra peace of mind: the roof was completely redone last year, so you're already ahead on major maintenance! And for peace of mind, the roof was completely replaced just last year-leaving you one less thing to worry about. Not only was a completely new roof installed in 2023, but the back of the property received new siding in 2022, adding an extra layer of durability and curb appeal. To top it off, two new 16x7 garage doors-one in the front and one in the back-were installed in 2022, enhancing both accessibility and value. This property has so much to offer, from the classic beauty of its vintage brick exterior to the untapped potential inside. Don't miss out on the chance to own a piece of Evanston with endless possibilities.

Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.

• Buyers
• Agents
• Sellers

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.

Last updated: Nov 15, 2024 01:05 am

Listing agent:

Listing provided courtesy of: Keller Williams Premiere Properties (630) 545-9860

Details provided by MRED and may not match the public record.
MLS ID: #mrd12210448

Based on information submitted to the MLS GRID as of Nov 15 2024 - 05:38. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.