2649 W Haddon Ave Apt 2s Unit 2S Chicago, IL 60622
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About this home
Calling all investors and first-time buyers. Do not miss out on this beautiful 1BR+Den modern condo located on a quiet tree lined street in Hot West Town. This walk-up is a boutique condo building that is all brick. South facing and sun drenched, the home features bamboo hardwood floors, high loft style ceilings, open updated kitchen with dark cabinets, stainless steel appliances, breakfast bar, exposed duct work and room for large dining table or home office. Huge living room with floor to ceiling windows and glass door that leads to a massive deck for outdoor entertaining. Luxurious bathroom with updated vanity and stone shower. Washer/dryer in unit. Low HOA, healthy building and pet friendly. Located 15 min walk from restaurants and bars on bustling Division Street and Wicker Park. It's steps away from the 606 Trail and beautiful Humboldt Park with year round activities which include miles of running trails, paddle boat in the lagoon and movies in the park. Easy access to transportation, highways, shopping, restaurants and bars.
Source: MRED #12489037
Loan details
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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.