125 N Oakleaf Dr Addison, IL 60101
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About this home
Welcome to this inviting ranch-style home in Addison, offering a rare combination of flexibility, comfort, and outdoor enjoyment. Situated on a generous .33-acre lot, this well-maintained home is perfect for those seeking both a cozy interior and ample space for family living. Inside, you'll find a versatile main floor featuring 3 bedrooms, a spacious living/dining room area with a charming wood-burning fireplace, and a cozy family room, ideal for both entertaining and everyday living. The kitchen, along with a convenient kitchenette, offers plenty of room for cooking and dining, and provides the possibility for related living arrangements. The expansive finished basement is an entertainer's dream, complete with a full bath, a versatile bedroom/office space, and an additional wood-burning fireplace. It provides a perfect space for guests, a home office, or additional living needs. Step outside to your private backyard retreat, where you'll find an above-ground pool and a large deck that offers plenty of space for patio furniture, ideal for relaxing or hosting summer gatherings. The home is equipped with a whole-house fan and gas-powered generator which ensures peace of mind during power outages. This home truly offers the best of both indoor and outdoor living with tons of potential for customization to suit your needs. In 2024, a new pool liner was installed. In 2025, the hardwood floors in the living/dining room area and master bedroom were refinished. New carpeting was installed in one of the main floor bedrooms and in the basement. A new overhead garage door was installed, Bath Fitter surrounds were installed in two of the bathrooms on the main floor, a new washer, garbage disposal, and sump pump were put in. Roof Maxx of Downers Grove assessed the condition of the roof, determined it to be in good condition and treated it using a process to extend its life for possibly 4 years or more. The interior of the home has been freshly painted and is in move-in condition. It is an estate sale and being sold in its as-is condition but don't miss your chance to make this charming Addison home yours!
Source: MRED #12454418
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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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