202 Hickory St New Lenox, IL 60451
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About this home
Welcome to 202 Hickory Street. A beautifully maintained and thoughtfully updated home nestled in New Lenox's north-central neighborhoods. Just a short walk from the Metra station, local parks, The Commons, shops and restaurants. This home offers the perfect blend of small-town charm and everyday convenience. Set on a spacious one-third acre lot with city water and sewer, this warm and inviting residence features four bedrooms upstairs and a fifth bedroom or office on the main level, ideal for today's flexible living needs. The interior is filled with natural light, hardwood floors, generous closet space, and timeless built-ins that showcase its craftsmanship and character. Over the past few years, the home has received a long list of updates, ensuring peace of mind and comfort for years to come. These include a new mini-split A/C system providing efficient cooling throughout, a new roof installed in 2022, newer stamped concrete patio perfect for entertaining in the fenced backyard, and newer siding on the garage. The kitchen features a new stove and dishwasher, and the home also includes a radon mitigation system (2018), blown attic insulation (2018) for improved efficiency, new PVC plumbing in the basement (2018), and fresh paint throughout in recent years. The two-car detached garage includes a second level, offering great potential for a studio, workshop, or guest suite. The basement provides laundry, storage, and additional space for future finishing. Homes in this area are highly sought after for their mature trees, walkability, and proximity to award-winning New Lenox schools, Old Plank Trail, and quick access to I-80 and I-355. 202 Hickory Street is more than a home, it's a lifestyle of comfort, character, and community in the heart of New Lenox.
Source: MRED #12493674
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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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