9137 S Tripp Ave, Oak Lawn, IL 60453
4 beds · 3 baths · 2,564 sqft
Welcome home to this sprawling quad-level residence in the heart of Oak Lawn! This beautifully maintained four-bedroom, three-bathroom home offers an exceptional blend of charm, space, and functionality-just minutes from shopping, dining, and the local athletic complex. Nestled in a picturesque neighborhood, this home is truly a dream to live in. As you approach, you'll love the stately double doors and covered front porch, setting the tone for the warmth and elegance found inside. Step into the spacious foyer, which opens seamlessly into the main-level living room, formal dining area, and a charming kitchen-complete with a breakfast room for casual dining. A sliding door provides easy access to the fenced-in backyard, featuring a patio and a large storage shed, perfect for enjoying those wonderful summer months. Heading upstairs, you'll find three generously sized bedrooms and two bathrooms. The second bathroom is a true luxury retreat, featuring a soaking tub fit for royalty, ample counter space, a dedicated vanity area, and an offset toilet and bidet for added privacy. On the lower level, discover an expansive family room, complete with a beautiful fireplace and a dry bar-perfect for entertaining. Your guests will love the private lower-level bedroom and full bathroom with a step-in shower. The spacious laundry room is also located on this level and is complemented by a second kitchenette with a gas range and a second refrigerator-ideal for extended stays or additional meal prep. But the home doesn't stop there! Head down to the fully finished sub-basement, where you'll find a billiards room, your very own sauna, and a workshop area. Plus, a large built-in safe is included with the home for added security. Rounding out this incredible property is the attached 2.5-car garage with radiant heated floors-a true game-changer during colder months. Additional amenities include a full-yard irrigation system, ensuring a lush and vibrant lawn year-round. This Oak Lawn gem is the perfect blend of space, style, and convenience-schedule your showing today!
Source: MRED #12301449
Source: MRED #12301449
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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.
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 “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.
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 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.