2115 E 875th Rd Tonica, IL 61370
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About this home
Nestled on nearly an acre among mature trees and open farm fields, this 4 bedroom, 2.5 bathroom two story home combines elegance, comfort, and functionality in a serene setting just minutes from Starved Rock State Park. Curb appeal abounds with its beautiful landscaping, large covered front porch, and charming dormers. Inside, the grand foyer greets you with an elegant staircase and a stunning chandelier. The living room invites you in and flows seamlessly to the formal dining room, both highlighted by elegant hardwood floors, custom built-ins, and stylish lighting. The updated kitchen impresses with desirable cabinetry, butcher block counters, an island, table space, tile flooring, custom hand-made light fixtures, and appliances including a range with indoor grilling capabilities. The main-level primary suite continues the appeal with hardwood floors, a spa-like en-suite featuring a whirlpool tub, walk-in shower, and a walk-in closet. Completing the first floor are an updated half bath, a laundry nook, and ample storage. Upstairs, two spacious bedrooms with cozy sitting nooks, a variety of closet space, and their own HVAC systems provide personalized comfort, while a full bathroom adds convenience. A versatile fourth bedroom/bonus room offers abundant space, custom built-ins, an electric fireplace, and its own HVAC system for personalized climate control. Additional highlights include updated trim and mouldings, solid six-panel oak doors, skylights, an on-demand water heater, and plentiful closet space throughout. The fully insulated, heated and air-conditioned 2 car attached garage adds practicality year-round for vehicle space, storage, and workshop capabilities. A walk-out basement with tall ceilings offers excellent storage, workshop potential, or future finishing options. Outdoors, enjoy the wooded backdrop, tiered covered deck, paver patio, landscaped yard with raised beds, and a storage shed. This custom home blends timeless design with modern updates in a truly peaceful setting. An exceptional opportunity near one of Illinois' most treasured destinations.
Source: MRED #12475070
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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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