901 E Alder Ln, Mount Prospect, IL 60056
3 beds · 2 baths · 1,700 sqft
-Welcome to this beautifully maintained 3-bedroom, 2 full bathroom home with a 2.5-car garage, perfectly situated in the highly sought-after village of Mount Prospect. This home features a spacious living room and dining room, ideal for gatherings, and a large family room with a cozy fireplace and sliding doors leading to a patio-perfect for both indoor relaxation and outdoor entertaining. An additional office space provides an excellent setup for those working from home. The updated kitchen boasts newer stainless steel appliances, ample counter space, and a layout designed to make everyday cooking a pleasure. Numerous recent upgrades-including a new roof, furnace, water heater, electric panel, washer and dryer, stainless steel appliances, rebuilt furnace chimney, new patio, fence, new flooring, epoxy - coated garage floor and the list goes on. The beautifully landscaped, fenced-in yard features a second patio behind the garage, offering additional space for gatherings or peaceful retreats. Located just minutes from Randhurst Mall, the Metra train, a golf course, and top-rated schools like Hersey High School, this home offers unparalleled convenience. It's also within walking distance of the elementary school and only 20 minutes from O'Hare Airport. This move-in ready home reflects the owner's significant investment- with thousands spent on recent upgrades- ensuring modern comfort and peace of mind for its next residents. Don't miss this incredible opportunity to own a gorgeous home in one of Mount Prospect's prime location."Schedule a showing today and experience this incredible home for yourself!"
Source: MRED #12326071
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12326071
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
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.
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.
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.
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 “Save search” 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.
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 620, 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.