389 Lincoln Ave Woodstock, IL 60098
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About this home
Tucked away on a quiet street in one of the area's most beloved towns sits a home full of heart and character. It's vintage where it counts, updated where it matters, and overflowing with warmth. The kind of home that instantly feels right - close to everything yet perfectly peaceful. Welcome to 389 Lincoln Ave in the wonderful historic town of Woodstock. This home is as charming as the day is long and has much to be desired. With its more open floor plan on the main level, vintage wood floors throughout, and woodwork for days, this home strikes the perfect balance of classic and updated. The living room is warm and inviting, featuring built-in bookshelves, true hardwood floors, and beautiful craftsmanship that gives the space a timeless feel. The open family and dining room layout creates the perfect flow for entertaining - whether you're hosting friends or enjoying a quiet evening at home. The antique collector's kitchen is a true standout, filled with vintage, repurposed pieces that come together to create a one-of-a-kind space you'll instantly fall in love with. Recent updates include new siding (2021), front-loading washer & dryer (2019), water heater (2019), and a flagstone patio (2021). There's so much more to see and experience - this home is sure to impress and stand out from the rest. Just steps from the historic Woodstock Square, where the iconic 1889 Opera House still hosts live performances and where farmers' markets, parades, and local festivals fill the streets each season. Back in 1910, Woodstock earned the nickname "Typewriter City", when the Emerson Typewriter Company produced machines here that were shipped all around the world. Today, the same square continues to be the heart of the community - vibrant, walkable, and filled with timeless charm. Commuters will love being so close to the Woodstock Metra Station, located right by the square. The Union Pacific Northwest Line runs directly to downtown Chicago's Ogilvie Transportation Center, offering an easy and convenient option for travel to the city.
Source: MRED #12505410
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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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