321 Shawnee St Park Forest, IL 60466
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About this home
Back on market, Buyer's financing fell through! Pride in ownership clearly shows in this beautifully maintained Park Forest ranch home- brimming with curb appeal. Featuring an open floor plan, it offers 3 spacious bedrooms and 2 full bathrooms. The primary bedroom offers an ensuite with an enclosed shower for ease and comfort. Italian glass tile accents in both full bathrooms. All three bedrooms have brand new matte black ceiling fans that double as light fixtures. The family room boasts shiplap ceilings, with magnetic ceiling lights for added ambience. Newer windows throughout the home-including near floor to ceiling windows in the living room, allowing for natural lighting. Tastefully done custom built blinds and window treatments for privacy and decor stay-one less thing for you to worry it! The open concept kitchen has plenty of cabinet and counter space. Stainless steel appliances stay, including a wifi enabled Samsung stove. Kitchen is also equipped with a built in wine/beverage cooler. Motion sensor sink and lights. In the mud room, you will find your washer and dryer, newer water heater (2022), newer furnace (2020) while the furnace's exchange is brand new. Air conditioning is also newer (2020). Enjoy a 2.5 car garage PLUS the added convenience of car port WITH a garage door, and a spacious driveway, to accommodate 6 cars easily. The car port also has enclosed barn doors for ample storage, about 4ftx30ft of extra storage space. Step outside to admire the beautiful landscaping, low maintenance hosta plants (perennials), that return every year. They are reliable, dependable, and beautiful plants, just like this home. Newer driveway and sidewalk. Spacious, fully fenced in back yard, perfect for entertaining guests or relaxing. There are pavers in the back yard where you can set up your BBQ grill and patio furniture. Nothing to do but move right in! Schedule your showing today!
Source: MRED #12482639
Neighborhood
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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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