301 Maurice St Alton, IL 62002
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About this home
This home is a truly unique gem, brimming with character and charm! With 3 bedrooms and 2 baths, it offers plenty of space to make it your own. As you enter, you'll immediately notice the two cedar closets in the entry foyer, adding a touch of rustic elegance. The formal living room, currently being used as a bedroom, offers flexibility in how you want to use the space. One of the standout features is the spacious, remodeled bathroom, featuring double glass bowl sinks, a separate shower, and a luxurious soaker tub. The old bathroom space is primed for transformation into a laundry room, offering even more convenience for everyday living. The family room exudes warmth with its wood-burning fireplace, while the knotty pine accents and numerous built-ins create a cozy, cabin-like atmosphere throughout the home. The kitchen was remodeled just 8 years ago with modern stainless-steel appliances, and the microwave is brand new, ensuring you have all the amenities you need. The master bedroom is impressively large and offers the potential to be split into two separate rooms, if desired. The other two bedrooms have an unmistakable cabin vibe, with built-in dressers, desks, and even built-in bed frames, all of which come complete with box springs. Outside, you'll find a 3-car detached garage with concrete flooring and built-in workbenches, built in 2008, offering ample storage and workspace. Plus, a brand new water heater is being provided for the new owner to install, ensuring the home is ready for continued comfort. Please note, this home is being sold in AS-IS condition, offering the opportunity for customization and personalization to suit your style. This one-of-a-kind property has something special to offer!
Source: MARIS #25063765
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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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