205 N Matteson St Elwood, IL 60421
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About this home
Step inside and discover a home that offers space, natural light, and everyday ease. This 3-bedroom, 2-bath split-level is thoughtfully laid out with over 2,000 sq ft of living space, ideal for relaxing, entertaining, or growing into. The bright living room features a vaulted ceiling that opens up the main floor, leading to a large eat-in kitchen with generous counter space, and all current appliances included. A sliding glass door connects you to the side deck to enjoy sunny mornings and afternoons. The lower level offers a cozy family room, a 3/4 bath, and a spacious laundry room with direct access to a fully-fenced backyard, a private space framed by mature trees. Upstairs, the primary suite includes a walk-in closet, and both additional bedrooms offer plenty of room to personalize. The second-floor bathroom is roomy and includes a large linen closet for extra storage. Outside, you'll find a 2-car detached garage with a nicely maintained yard. The location is a true perk where it's centrally placed in Elwood, just a short walk from the park, general store, and local favorites. Whether you're commuting or staying close to home, this neighborhood has the small-town charm with everyday convenience. Gigabit internet and strong 5G coverage from major providers support remote work, streaming, and smart home features (buyer to verify coverage). This home is clean, comfortable, and ready for its next chapter. Don't miss your chance, schedule your visit today.
Source: MRED #12488884
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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.