2832 Fairway Dr Belleville, IL 62220
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About this home
Beautifully updated and very well-maintained 2-story home in The Orchards subdivision within the sought-after Mascoutah School District! This 4-bedroom 3.5-bath home features a remodeled kitchen (2019) with granite countertops, soft-close cabinetry, new appliances, and stylish under/over cabinet lighting. The main level offers a formal dining room, spacious living room with a gas fireplace, and a convenient main-floor laundry. New carpet with Nike Grind carpet pad (installed 3 years ago) extends through the living room, up the stairs, large landing, and all bedrooms. Upstairs, the primary suite boasts a remodeled bath with a separate soaking tub and shower plus and impressive 10x12 walk-in closet. Three additional bedrooms (one with large walk-in closet) and another full bathroom complete the upper level. The partially finished basement includes a large family room, kitchenette (sink, beverage fridge and microwave) and ample storage space. Enjoy the private backyard with mature trees, a covered patio, and a sidewalk leading to the man door at the back of the 3-car garage! Conveniently located near Highway 15, Scott Air Force Base and The Orchard Loop Trail at Belleville Eckerts Family Farm. Bike path access across from the community pool! Yearly HOA of $425 covers the club house, pool, common ground maintenance, basketball and tennis courts.
Source: MARIS #25072556
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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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