9254 W Forest Dr Elwood, IN 46036
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About this home
Gracious and spacious Forest Hills home with stunning vaulted ceilings sits on park-like .51 acre golf course lot. The great room has high beamed ceilings and the prettiest limestone stacked fireplace. The view out the front picture window is stunning. The well-appointed kitchen is convenient to the dining and breakfast areas and features a handsome backsplash contrasting nicely with the white cabinets. All appliances stay. The dining area also has a large picture window and high ceilings for drama and light. On the main level, you'll find a convenient home office. As family rooms go this one is a real show-stopper. It's large and bright with two walls of windows making the most of the golf course view. The primary bedroom has a sitting area and an ensuite bath. The other three bedrooms are ample with nice closets. Did I mention the nice basement which makes a great storage area or flex space? This house even has a dedicated golf cart garage. 2 car garage has lots of storage and the separate golf cart garage loads from the rear of thehome, it's currently being used as a workshop. You will enjoy this outstanding setting overlooking golf course, woods and near Big Duck Creek in one of Elwood's prettiest neighborhoods.
Source: MIBOR #22070443
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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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