7757 Van Buren St # 2-511 Unit 2-511 Forest Park, IL 60130
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About this home
Beautiful and spacious 2 bedroom and 2 bathroom unit on the highly desirable top floor of a much sought-after elevator building, The Residence at The Grove! This unit features a large open floor plan consisting of the kitchen, combo living room/dining area - which is the perfect layout for entertaining! The kitchen boasts a large breakfast bar, granite countertops, an abundance of cabinet space, stainless steel appliances and a wonderfully unique skylight. Off of the living room are sliding glass doors that open to your private balcony and overlook the beautifully landscaped courtyard - fantastic space to grill out or unwind with a book and a glass of wine. The split layout of the unit gives you plenty of living space and privacy between the two bedrooms. The spacious primary bedroom has a large walk-in closet and an en-suite, with double bowl sinks and a linen closet. There is another full bathroom adjacent to the generous second bedroom with a 2nd linen closet. Additional features: In-unit laundry room with a full-size washer and dryer and a utility closet, both bedrooms overlook the courtyard, tons of natural light, plenty of closets, two designated heated garage parking spaces, and a large indoor storage unit. The building's amenities include guest parking, a fully equipped exercise room, a party room that opens to a lovely patio, and a secure bike room. Incredibly well-managed building. Prime location! Close to everything Forest Park has to offer: restaurants, shops, schools, parks, the Blue Line, Metra and highway access!
Source: MRED #12478465
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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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