524 Highland Dr Elburn, IL 60119
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About this home
Cancelation due to buyer deciding not to relocate to Illinois! THE PROPERTY IS BEING OFFERED TO ALL BUYERS. HOWEVER, THE ASSUMABLE MORTGAGE IS BEING OFFERED TO VETERANS ONLY!! WHAT A DEAL FOR A LUCKY VETERAN BUYER!! THE BUYER WILL SAVE SO MUCH WITH THIS 2.375 INTEREST RATE OVER THE COURSE OF THE LOAN!! This spacious and versatile home offers room for every part of your life, whether that's working from home, entertaining guests, or simply having space to unwind. With four bedrooms, two dedicated office spaces, a rec or theater room, a game room with a dry bar, and even an area that could serve as a home gym, you'll find flexibility and comfort in every corner. The grand entrance features vaulted ceilings, a wide foyer, and a dramatic double staircase that gives the home a bright, open feel. On the main level, a private office sits near a full bathroom, making it an ideal fifth bedroom or guest suite. The kitchen opens to the family room and flows out to a low-maintenance composite deck-perfect for grilling, relaxing in the hot tub, or taking a dip in the pool, which has a brand-new motor. In warmer months, the outdoor space is set up for fun and relaxation, and in colder months, the finished basement becomes the perfect place for indoor entertainment. Upstairs, the primary suite includes a whirlpool tub, separate shower, double sinks, and dual closets-offering both comfort and convenience. Over the past four years, the home has seen thoughtful updates throughout. The AC and furnace have been replaced, and the garage now features smart openers, new doors, epoxy-coated flooring, and an electric car charging port. The laundry room has been refreshed with new flooring, washer and dryer, and a utility sink. New light fixtures, ceiling fans, and blinds have been added in many areas, along with fresh paint in several rooms, including the garage. The kitchen includes a new faucet and garbage disposal, along with updated cabinet hardware. The basement has been transformed with luxury vinyl plank flooring, new ceiling tiles, a new bathroom vanity, and carpeted stairs leading down. A full smart security system, Arlo video doorbell, and smart locks help provide peace of mind. Outside, you'll also find garden beds ready for growing your own fruits and vegetables, and the home comes with pool equipment and a convenient Rubbermaid storage shed. This home offers a well-rounded blend of function, comfort, and thoughtful improvement, ready to welcome its next chapter. Some other benefits include close proximity to the elementary school and high school and also downtown.
Source: MRED #12428810
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.