8328 S Essex Ave, Chicago, IL 60617
3 beds · 2 baths · 1,200 sqft sqft
Meticulous care has been maintained in this south shore gem of a home. From the gorgeous hardwood floors to the custom design areas of this 3 br beauty there is a possibility of 2 additional bedrooms. Nice separate living room dining room and newer windows with custom vertical blinds that emit light with a bright effect. Bedrooms are nicely sized and kitchen has custom close assist cabinets that address you as you walk into room and stand on a smooth classy floor. Updated bathroom with classic clawfoot tub. In rear of home sits a large enclosed back porch that would fufill a multitude of needs. Lounging or storage brings to mind a few. The attic boasts unbelievable sizes in this type of home.There is a room 28x24 that can easily be a bedroom.an 8x8 room with bathroom conversion written all over it.There are two 16ft wide custom wall closets a dream for those into extensive fashion storage. The half finished basement is an incredible living space complete with laundry room12x12 bedroom space 16x12 lounging area with an additional 26x13 area currently being used as an entertaining space. Seller is also including roughly 400 sq ft of floor tile to complete your basement and have a fully functional and finished basement. Furnace and water heater 3 years old. Schedule your showing today. Outside sports a beautiful spacious wooden deck,nice green yard and 2 car garage with remote opener. WOW NOW THAT S A HOUSE priced to sell bring your offers
Source: MRED #mrd12169779
Interest rate and monthly payment estimated based on public records.
Source: MRED #mrd12169779
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: #mrd12169779
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.