8727 Sayre Ave, Oak Lawn, IL 60453
3 beds · 2 baths · 1,120 sqft
Gorgeous, fully renovated 3 bedroom 2 bath Oak Lawn sprawling ranch on a 77X140 lot was fully renovated in 2018! This one-of-a-kind home features newer cement board siding w/warranty, spray foam insulation, 200 amp electric, solid wood white doors/trim, Baldwin door knobs, Crest Line high efficient windows, an inviting front porch, gleaming hardwood floors, open concept living room/great room with vaulted ceilings, gourmet eat in kitchen with soft close custom white cabinetry, quartz counter-tops, Samsung stainless steel appliances, subway tile back splash, marble island and huge window overlooking the yard, spacious master bedroom with barn door closet with built in organizer, full luxury bath with exquisite dual head walk in shower, comfort height vanity and restoration hardware faucet, two additional good sized bedrooms (one with closet organizer and one with dual closets), fully renovated guest bathroom with restoration hardware faucet and main level laundry with Container Store shelving. Nest thermostat and ring doorbell included. Enormous fenced yard with brick paver patio and plenty of green space. Detached two car garage with newer garage door and concrete slab behind the garage for additional storage. Newer: washer (2023), central air and furnace (May 2021). Fantastic location near schools, shopping and the Oak Lawn Pavilion with parks, pool, splash pad, walking paths, ballfields and recreation center. Quick access to I-294!
Source: MRED #12223240
Source: MRED #12223240
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: #12223240
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.