980 Carnegie Knolls Dr O Fallon, IL 62269
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About this home
Back on Market Due to Buyer Financing. Welcome to your dream home in Parcs of Arbor Glen! This expansive 5-bedroom, 4-bathroom residence spans over 3800 square feet offering luxurious living space. The heart of this home is the kitchen which features a spacious breakfast bar, granite countertops, stainless steel appliances, and a walk-in pantry to satisfy all your culinary needs. Adjacent to the kitchen is the formal dining room and living room complete w/double-sided fireplace. The main floor also includes a well-appointed laundry room for your convenience. Upstairs, the generous primary suite provides a luxurious bathroom and oversized walk-in closet. Additional bedrooms offer ample space and comfort for family members or guests. The finished basement enhances your living space with a family room plumbed for wet bar, a full bath, and a fifth bedroom, perfect for a private guest suite or home office. Outdoor living is at its finest with a vinyl fenced yard that ensures privacy. Entertain friends and family around the fire pit, or enjoy a meal in the covered patio with a custom grilling station. The spacious 3-car garage has plenty of storage and parking. This home is within walking distance to the O'Fallon Sports Park offering recreational opportunities. Close to SAFB/shopping/dining/hospitals and within 30 minutes of St Louis. Don't miss your chance to call this stunning property your new home. Home and carpet were professionally cleaned. New Roof. Buyer to verify all information prior to making an offer and preapproved buyers only please.
Source: MARIS #25042921
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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.