1104 Live Oak Dr
Oklahoma City, OK 73110
3 beds · 3 baths · 2,418 sqft
$250,000
Get prequalifiedAbout this home
Assumable 2.875% interest with 16 yrs remaining on $166K balance. Priced below average for quick sale. Can you imagine the wonderful time you could have relaxing on this fabulous, covered patio?!? Don't miss out on this very well maintained and spacious home in a great location, sitting on a 1/4 acre. With stunning exterior cedar finishes, multiple living areas, and an amazing backyard, this home is perfect for entertaining or relaxing indoors or out. The large main living room has a cozy fireplace and seamless flow to dining/kitchen. French doors open to the beautiful outdoor covered patio and expansive yard. Kitchen perks a double oven, pantry along with lots of cabinets and countertop space. The 2nd living room is a blank canvas. Use your imagination...Make it a den, formal dining, office, play area or convert it to a 4th bedroom. It is such a flexible space. Upstairs bedroom is private and near a bathroom and has side door entrance. There is storage galore in this home (think closets and more closets). The back yard is AMAZING! Glorious covered back patio and beautiful back yard with room to roam and garden area. There is an easy access safe room in garage for peace of mind. Easy access to everything in OKC! Tinker 5 min, Bricktown 10 min, Airport 25 min. Hospital 2 min., and only 15 min to the new OKANA indoor water park resort. Make this place yours!
Source: MLSOK #1158514
Neighborhood
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.
Oklahoma City, OK 73110
3 beds · 3 baths · 2,418 sqft