950 Sycamore Rd, Dekalb, IL 60115
4 beds · 2 baths · 1,858 sqft
This home is a MUST SEE! IT IS PRICED TO SELL! Beautiful historic home, close to everything you could possibly want or need. There are 2 bedrooms upstairs, a loft area which could be used as a play area or a home office space, it has a large built-in bookcase and an updated bathroom including a new shower, all rooms have just just painted. All the upstairs rooms have individual thermostats, making the upstairs more energy efficient. There is also A HUGE built in Linen closet and access to additional storage. There are an additional 2 bedrooms on the main level and another full bath. The Living room, includes a brick fireplace with built-in bookcases on both sides and beautiful Hardwood floors are thru much of the main level. The original wood trim and beautiful wood doors are still there adding so much character to this home. The kitchen was just updated in 2024, it includes a large pantry. New windows were installed in 2021 through most of the house. The furnace was replaced in 2019 and the central air was replaced in 2023. The Roof was replaced in 2020. The basement is partially finished and includes a large family room area, also a large separate storage/workshop space and a separate area for the laundry room and even more additional storage. The basement was professionally waterproofed in 2018. This home is ready for your personal touches to make it yours. The back of the house includes an inclosed porch/mudroom. There is a separate 2 car garage with exterior stairs going up to a workspace or studio. The elementary school is within walking distance. INVESTORS this house is 3 minutes from NIU and 5 minutes Northwestern Hospital. The big items are done, Windows, Roof, A/C, Furnace, and professional waterproofing.
Source: MRED #12290842
Financials
Source: MRED #12290842
Source: Public records
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%. 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.
Other resourcesWhat 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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.