7712 Cedar Rd Wonder Lake, IL 60097
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About this home
**Embrace Lakeside Serenity at 7712 Cedar Rd, Wonder Lake, Illinois** Welcome to your tranquil retreat at 7712 Cedar Rd, nestled in the heart of the enchanting Wonder Lake community. This exquisite ranch-style home offers an idyllic blend of comfort and elegance, designed to captivate your senses and provide an unparalleled living experience. **A Harmonious Blend of Nature and Comfort** As you approach this charming abode, the gentle whispers of the lake invite you to a life of peaceful relaxation. The meticulously landscaped grounds set the stage for a home that harmonizes with its natural surroundings. The private beach access, exclusive dock/pier, and boat launch provided by the homeowners association ensure that your connection with the water is just steps away. **Elegant Interiors with a Warm Embrace** Step inside to discover a spacious open floor plan that seamlessly integrates the living, dining, and kitchen areas, creating an inviting atmosphere perfect for entertaining or quiet evenings by the stone fireplace. The updated kitchen, with its modern appliances and ample counter space, is a chef's delight, promising culinary adventures with a view. The family room, bathed in natural light, offers a panoramic vista of Wonder Lake, ensuring that the beauty of the outdoors is always within sight. The two cozy bedrooms provide a serene escape, each thoughtfully designed to offer rest and rejuvenation. **A Sanctuary of Outdoor Delights** Venture out to the back deck, where the splendor of the lake unfolds before you. This is the perfect spot for savoring your morning coffee or dining al fresco as the sun sets over the water. The screened patio extends your living space, allowing you to immerse yourself in the sounds and sights of nature without leaving the comfort of your home. The walk-out basement, finished with the same attention to detail as the main level, offers additional space for recreation or relaxation. It opens up to a fenced yard, where the firepit awaits to warm your evenings under the stars. **A Community of Leisure and Adventure** As a resident of this lake community, you'll enjoy not just a home but a lifestyle. The private park is a haven for picnics and play, while the lake itself beckons with opportunities for boating, fishing, and water sports. Your private dock/pier access ensures that these pleasures are always within reach. **Your Lakeside Dream Awaits** At 7712 Cedar Rd, every detail has been crafted to create a sanctuary that soothes the soul and invigorates the spirit. This is more than a home; it's a retreat that promises a lifetime of memories by the water's edge. Embrace the opportunity to make this lakeside dream your reality. This property is being sold as is. Bank appraisal came in at list price. Bank approved at that price. Bank will look at all reasonable offers.
Source: MRED #12291172
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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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