12740 Iberg Rd Highland, IL 62249
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About this home
Welcome to your DREAM HOME! This stunning ranch style residence, built in 2005 boasts over 3500 square feet of living space across both the main level and lower level, offering ample room for COMFORTABLE FAMILY LIVING! Nestled on a spacious half acre lot within City Limits, this property is perfect for enjoying the outdoors with a fully fenced back yard, serene, screened back porch, gas firepit, concrete patio and add’l outdoor storage! On one of the LARGER lots in the Cambridge Meadows neighborhood you can enjoy the charm of the Large Covered Porch! Step inside this BEAUTY to find 5 generously sized bedrooms thoughtfully designed with convenience and privacy as well as 4 Bathrooms (3/1)! Main Level is BEAUTIFULLY highlighted by the hard wood flooring, Natural Lighting, beautiful color palette and peaceful Openness! Kitchen is Spacious with a Large Breakfast Bar, Custom Cabinetry for Great Storage Options, Updated Appliances and is open to the Dining Area with CONVENIENT access to the Charming Screened Porch, Main Floor Laundry, Guest Half Bath and Garage. Master Bedroom nicely accentuated by the Large Walk-In Closet and En Suite! 2 Add’l bedrooms and Full Hall Bath complete the Main Floor! The Lower Level is a true “Entertainer’s Delight” featuring a Kitchenette, Large Family Room, Rec. Area, Bar Seating, Full Bathroom w/ Laundry Area, 2 Spacious Bedrooms with W/I Closets. 3 Daylight Windows with “Barn Door” Coverings to Enhance the Relaxation “Vibe”. Ample Unfinished Storage! Garage is over-sized with Workshop Area, Sink and Side Door Entry. Natural Gas Line has installed and ready to be hooked up to your Grill! Outdoor Entertaining will be a Blast sitting around the Gas Fire Pit! This Beautifully maintained home is not just a place to live; it’s a lifestyle waiting for you to embrace! Don’t miss this opportunity to make it yours!
Source: MARIS #25066869
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.