3507 N Osceola Ave Chicago, IL 60634
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About this home
Classic brick bungalow SFH on quiet tree lined street in Chicago's Dunning area. This home features: total five Bedrooms and two Baths, with 2 bedrooms on the main floor, a Master bedroom on the upper level, and 2 additional bedrooms in the finished basement. Main floor enters into Living Rm combined with Dining Rm with gleaming hardwood floors along with new energy efficient LED lighting and leads into a brand new kitchen w/ new white cabinetry, white Quartz countertops, glass tile backsplash and SS appliances. Also on the main level, two bedrooms and a full bathroom with a jacuzzi tub. Contemporary, modern feel simple, space- saving staircase leading up to Master bedroom on the upper level. The lower level downstairs has: a large recreational room, ideal for family gatherings or leisure activities, and two additional bedrooms, a full bathroom, and a large mechanical/laundry room with a new washer and dryer. Other updates: new windows throughout enhance both energy efficiency and curb appeal. Newer hot water tank. Step outside right into a gorgeous deck overlooking a generously sized backyard. Larger lot is 4,140 SqFt per public records. A garage and two additional parking spaces next to the garage. Conveniently located near top schools such as Steinmetz College Prep, Dever Elementary and St. Patrick High School, this home is perfect opportunity for good education. Shopping is with a short distance in Harlem Irving Plaza, Target, and Jewel-Osco nearby. Enjoy dining out at SmoQue BBQ, Paterno's Pizza, and Cafe Marbella Tapas and MORE *** Motivated seller. Give us your offer.
Source: MRED #12496098
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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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