910 S Michigan Ave Apt 1805 # 1805, Chicago, IL 60605
2 beds · 2 baths · 1,725 sqft
Get a free consultation call with an expert in the mortgage assumption process.
*****FHA SPOT APPROVED UNIT!!!!*****Huge sun drenched 2 bed/2 bath unit in MAGNIFICENT Marshall and Fox architecturally significant masterpiece!!! Simply stunning views of Lake Michigan, Grant Pk, Buckingham Fountain and Navy Pier!!! Lobby and elevators have been meticulously updated with all of the majestic flavor intact. This 1725 sq ft unit provides the perfect backdrop for comfortably elegant living and entertaining! Massive split floor plan for ultimate privacy and each bedroom houses it's own spacious en suite. Storage galore! Primary bedroom has 2 walk in closets, lake views and is generously sized with space for a sitting area plus a ton of furniture. Bright primary en suite includes a luxurious jetted Jacuzzi tub, double sink vanity, and separate shower! Hardwood floors grace your combined living room/dining area and grand entry hall. This unit has the largest coat closet ever. Oversized living room with gas fireplace and sweeping views across the entire living room wall transtioning into the enclosed balcony, perfect for office space. Dining room area will easily allow you to host dinner parties for all your guests in spacious comfort. Meal prep and entertaining is a dream in your gorgeous kitchen with a separate pantry, stainless steel appliances, recessed lighting, garbage disposal and cherrywood cabinets. Your in unit laundry room includes newer washer/dryer, laundry supply storage plus room for folding. 24 hr doorstaff!!!! On site dry cleaners, additional storage room on the 15th floor, deeded parking space, bike room available, fabulous fitness facility, library, on site management and maintenance. Welcome to your dream home!!
Source: MRED #12273811
Learn about how it works
Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: MRED #12273811
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 and Equal Opportunity Act.