1125 Gulfstream Way Mascoutah, IL 62258
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About this home
What more can you ask for? Waterfront lot, fenced yard, primary bedroom on the first floor, finished basement, 3 car garage and all in Mascoutah school district! Inside the two story foyer entry you'll find hardwood floors, living room with gas fireplace that opens to the beautiful kitchen with breakfast bar, eat in area, granite counters, and all appliances to stay and just off the formal dining room. The primary bedroom on the main floor makes this a forever home possibility without ever having to take the steps! The primary bath also has a separate soaking tub and shower with a walk in closet. The main floor also offers a convenient half bath and a larger laundry room that leads to the 3 car garage. Upstairs there is a loft area, three more bedrooms that share a full bath. The finished basement has a built in desk system great for crafts or work from home. The projector and screen stay in place for your movie nights! Lots of unfinished space for storage and potential to finish a bathroom. Enjoy the waterfront view from the covered patio out back, another patio that would be great for a hot tub, and all fenced in! So many extras like year round lighting on the front of the home and new carpet in the basement! Minutes to Scott Air Force Base and Mascoutah schools! Audio and visual on the property.
Source: MARIS #25068953
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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.
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