OPEN HOUSE FEBRUARY 8th FROM 2-4 PM! BEAUTIFUL HOME IN CULDE SAC WITH POOL AND ON NEAR FULL ACRE LOT IN THE MIDDLE OF EDMOND! TONS OF UPDATES! This true 4 bed, 3.5 bath with office, game room, and theatre room is nestled in the highly attractive addition of BARRINGTON. Welcome home to timeless elegance and modern comfort! As you step through the entry way, you're greeted by soaring ceilings and an open, inviting atmosphere. Gorgeous tile and hardwood flooring flow throughout, complemented by thick crown moulding and rich trim details that add sophistication to every room. The dedicated office features beautiful built-ins and gleaming hardwood floors, perfect for working or studying in style. Custom lighting is thoughtfully placed throughout the home, enhancing each space with character. The living room is highlighted by a stunning marble and wood mantle which makes an ideal piece for family gatherings. The updated kitchen is a chef's dream, boasting granite counter tops, stainless steel appliances, and a spacious pantry. The Master Suite offers a high tray ceiling, jacuzzi tub, dual vanities, and an expansive walk-in closet. Did I mention a hidden speak easy room?? Each bedroom in the home offers high ceilings and spacious walk-in closets. Upstairs, enjoy a roomy game room with a bar and a private theatre room for movie nights. Tons of storage throughout home in every hallway. Step outside into the backyard which features a 2 year old fiberglass pool, (Saltwater and lifetime fiberglass warranty), hot tub with gazebo, and 16 by 16 electric storage building. Details flow throughout this entire property. Recent updates include: New Pool(2024) Hot Tub(2022) Gazebo(2024) Bluetooth Lighting in front of home(2022) Speakeasy room(2022) Hot Water Heaters(2024) Roof(2024) Upstairs HVAC(2024) 16 by 16 storage building(2021). See additional documents for full list of updates. DO NOT MISS THIS ONE! SCHEDULE YOUR SHOWING TODAY!
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.
