10023 S Fairfield Ave Chicago, IL 60655
Your savings
About this home
You've found the impossible! An updated bungalow in West Beverly for under $400,000? What? That's right. This three bed, one-and-a-half bathroom home is located near desirable public and private schools and is move-in ready. The nicely landscaped front yard welcomes you in. Once inside, you're met with timeless elegance in oak hardwood floors, white millwork, and neutral painted walls. The living room features a bay window letting in lots of natural light. The layout is spacious and inviting and connected to the separate dining room. HOW HAVE WE NOT TALKED ABOUT THE KITCHEN YET? This kitchen features custom cabinetry, quartz countertops, and stainless steel appliances. (insert chef's kiss emoji). The primary bedroom is large and private. The full bathroom has been recently remodeled and is located in between the primary bedroom and bedroom number two. Bedroom three is located at the rear of the home, perfect for guests, a strong-willed teenager, or a home office. Downstairs, the finished basement is the perfect party spot! Think games of pool, drinks, football games, whatever your heart desires! The laundry room and utility room is downstairs as well. The backyard features a brand new deck and good lawn space, perfect for BBQs or spending time with your expensive hypoallergenic poodle mix! Easy access to the 2-car detached garage. Come scoop this one up!
Source: MRED #12480864
Loan details
Neighborhood
45-day close guarantee
Close stress-free in 45 days, handled start to finish by Roam.
Roam Price Match
If you find a better price on any home, we’ll match it.
FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.