5111 Wonder Woods Dr Wonder Lake, IL 60097
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About this home
Beautiful 3-Bed/2-Bth ranch in perfect Wonder Lake location! This home has been lovingly maintained and has modern updates throughout. As you enter the front door, you're greeted by a bright and open living room with tons of natural light pouring in. The living room flows seamlessly into the kitchen and dining area (and into the family room). The kitchen has plenty of cabinet space and room for a large dining table plus sliders that lead out to your back deck. Off of the kitchen, you'll find the expansive family room with vaulted ceilings, recessed lighting and a gorgeous wood burning fireplace - making it the perfect place to relax to watch a movie! There are 2 comfortably sized bedrooms and a full bath with a whirlpool soaking tub on the main level. Downstairs, the finished basement provides even MORE living space with a rec room, a bedroom, a bonus room that could be used as a bedroom or home office, a large storage room, the 2nd full bath and the laundry area. Outside, enjoy the large private, fenced-in backyard surrounded by mature trees. Recent updates include new windows 2025, new furnace, AC & water heater 2023, new appliances 2018. You truly can't beat this home or it's location - just a few blocks to Wonder Lake with beach access (includes water rights), and minutes to everything else that the village of Wonder Lake has to offer. Schedule your tour today! Sold AS-IS. HIGHEST & BEST DUE BY 7PM 11-3-25.
Source: MRED #12500864
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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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