Beautifully updated and well maintained home in the highly sought after Highland Creek neighborhood on large corner lot. Featuring 3 bedrooms and 2 full baths with separate office space. The large and welcoming entryway lead you to the vaulted living room with wall of windows that let in plenty of natural light. A stacked stone fireplace with gas logs creates a warm and comforting feel. Ceramic wood look tile flows seamlessly throughout the house. The open concept layout is perfect for entertaining combining living, kitchen, and dining areas. Separate office off living room with storage and built in desk. The kitchen is thoughtfully designed and boasts a huge center island with quartz counters, extra cabinets and tons of counter space. Upgraded appliances, under counter lighting and deep undermount sink with restaurant quality faucet add to the upgraded fixtures. Huge walk-in pantry provides plenty of storage for all the extra gadgets. Built in mud room leading to garage adds to the storage options. Split bedroom floor plan provides for a private master bedroom that accommodates extra large furniture and an en suite bath with luxury shower and extra storage. Huge walk through master closet leads to separate laundry with storage. Secondary bedrooms have large closets. Hall guest bath has been fully updated with larger soaker tub, full tile shower surround and new flooring. Backyard has full privacy fencing and extended patio with large retractable awning to get you out of the hot summer days. Highland Creek is a very family friendly and golf cart community and includes Neighborhood zero entry pool, park/playground, large stocked pond, walking trails, soccer field and basketball courts. Broken Arrow Schools and award winning Rosewood Elementary. Located within a mile of 2 major highways makes for a quick commute.
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
