655 S Wall St Kankakee, IL 60901
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About this home
This all brick home displays charm and beauty from the moment you open the door! Spacious LR with 2 large windows to bring in plenty of light and an arched doorway that opens to the kitchen and dinng room. The kitchen has new quartz countertops, a snack bar, stainless steel appliances, a lot of cabinets, and a pantry. The dining room is open to the kitchen with 2 walls of windows for even more natural light. Through another arched doorway are the 2 spacious bedrooms and the full bath. There are built-in cabinets in the bathroom as well as a linen closet in the hallway. Main floor and basement have just been painted. The 2nd floor could easily become a master suite. The partially finished basement has a bathroom and laundry room, plus plenty of space for entertaining, gaming, a 2nd kitchen, and space for another bedroom. There is an attached 1 car garage and a nice yard with perennial flowers and space for grilling and relaxing. Call today for a showing!!
Source: MRED #12472669
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.