2925 Madison Dr Naperville, IL 60564
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About this home
This beautifully upgraded Foster model end unit built 2019 offers exceptional style and convenience in a sought-after Emerson Park location. SUPER LOW RATE assumable mortgage available for qualified FHA buyer. The open-concept main level features rich dark hardwood flooring throughout, beginning with a versatile front flex room-perfect as a living room or formal dining area-that flows seamlessly into the gourmet kitchen. The kitchen is a true showpiece, with a center island, white 42-inch soft-close cabinetry, granite countertops, and stainless steel appliances, including a Whirlpool French door refrigerator, GE oven/range, and GE dishwasher. The spacious 20' x 13' family room offers plenty of space for entertaining and opens to a private balcony. Hardwood flooring continues on the second-floor landing and into the huge loft, ideal as a media space or additional living area. The luxurious primary suite boasts its own private balcony, a walk-in closet with custom organizers, and a spa-like primary bath with dual-sink vanity, walk-in shower with designer tile, and a linen closet. The second bedroom features an attached full bath complete with a deep soaking tub and designer ceramic tile on both the walls and floor. A bright 5' x 3' laundry room with window comes equipped with a Whirlpool washer and dryer. The finished lower-level bonus room makes a perfect home office, workout area, den or possible 3rd bedroom. Additional highlights include custom window treatments (blinds and curtains), designer lighting, and a move-in ready condition-it's all been done for you. Enjoy the unbeatable Emerson Park location, within walking distance to the Metra Park & Ride and Wolf Crossing Community Park, and served by highly rated District 204 schools.
Source: MRED #12441645
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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.