25 W Oak St Mascoutah, IL 62258
Your savings
About this home
Welcome to your new home located in the charming community of Mascoutah, IL that offers a small town feel with modern amenities . Nestled in an established neighborhood, this delightful 3-bedroom, 1-bathroom residence offers 1,268 square feet of comfortable living space. Step inside to the cozy living room that flows into the spacious eat-in kitchen with ample cabinetry, a built-in pantry and appliances that convey. The home's layout includes a mudroom area where the laundry is conveniently situated and the mud room leads to the garage/back yard. The Trane HVAC system ensures that your family stays comfortable year-round and the home has a newer durable metal roof. Outdoors, you'll fall in love with the expansive double lot with mature trees that provide a beautiful backdrop and a sense of privacy. The rear patio is an ideal spot for barbecues and gatherings while the detached oversized 2-car garage offers ample space for vehicles, storage, and a workshop. Close to SAFB, shopping, parks, community pool, schools and within 35 minutes of downtown St. Louis. Buyers to verify all information prior to making an offer and preapproved buyers only please.
Source: MARIS #25062787
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.