2020 Magnolia Ln Wonder Lake, IL 60097
Your savings
About this home
BETTER than NEW Construction! This rarely available Henley model is move-in ready and upgraded beyond what new construction offers! There are currently ZERO new Henley models available for sale, this is a special opportunity. Aside from the beautiful design, this home comes with added value and convenience from the builder homes: refrigerator, washer, dryer, fresh paint on the entire first floor, two garage door openers, backsplash, fully fenced yard, new towel bars, and more... making it truly better than new. Spacious Layout - 2,600 sq. ft. with an open and flexible floor plan and amazing storage features - 9 foot ceilings on the first floor - 4 bedrooms plus a loft upstairs - Flex room on the main floor (perfect for office, den, or playroom) - 3-car garage with 2 openers Designer Kitchen - Open-concept kitchen flowing into the family room - Large island with breakfast bar overhang - White designer cabinetry & iced white quartz countertops - Walk-in pantry & stainless steel appliances - Stylish backsplash already installed, unlike new construction Comfortable Living - First floor powder room tucked away for privacy - Mudroom entry with huge walk-in closet for coats, shoes, and bags - everything you can drop - Loft upstairs for additional flexible living space - Spacious primary suite with walk-in closet and en suite bath - Dual-sink vanity & walk-in shower in primary bath - Second floor laundry (no more hauling laundry up and down) Smart & Efficient - ERV furnace system & tankless hot water heater - Builder's 1-2-10 warranty - Smart Home technology with Qolsys panel, Wi-Fi, Bluetooth, Z-Wave, and cellular device compatibility - Control your home from your phone, tablet, or computer Area Amenities Stonewater Community is a unique blend of mature trees, ponds, walking paths and living among 142 acres of nature. Outdoor pool is open to community members and the Club House and Fitness Center are anticipated to open this Fall. You'll love the amenities, the surroundings and the Waterfall at the entrance. Just a hop, skip to restaurants, shopping and all the fun of the area. McHenry has a full schedule of festivals or check out your boating options on the Fox River or Chain of Lakes.
Source: MRED #12484109
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.