Beautifully updated historic home in Military Park! Featuring a freshly painted covered front porch, newer double-pane vinyl windows, and a 2020 roof, this spacious 5-bedroom, 3-bath home blends timeless character with modern updates. Includes a large private 3-car carport behind the privacy fence. Inside, you'll find a grand wooden staircase & open-concept layout connecting the formal dining room, living room, and spacious renovated kitchen. Luxury wood tile flooring flows seamlessly through the downstairs & gorgeous custom lighting is found throughout the home. The kitchen features leathered granite countertops, an impressive 8-foot quartz island, crisp white cabinetry, stainless steel appliances, a 5-burner gas range, and a built-in banquette. A versatile 2nd living area with French doors is located just off the formal dining with a large window and private backyard access. This room makes the perfect office, gym, or flex space. The main floor also offers a large bedroom and full bath, ideal for guests or multigenerational living. Upstairs, the spacious primary suite includes a charming bay window, custom walk-in closet with storage & shelving system, and luxurious ensuite with dual vanities and an oversized 8'8"x3'4" tiled shower with 2 wall and 1 rain shower head and built-in bench. Three additional generously sized bedrooms and a third full bath complete the second level. Storage abounds throughout the home, including a large basement ideal for storage or storm shelter use. An impressive laundry is an optimal drop zone with mud bench and ample cabinetry for storage. The fully fenced backyard feels like a private park with pea gravel pathways, raised garden beds, and a newer storage shed. Located just minutes from local favorites, shopping, dining, and some of Oklahoma City's most vibrant districts, this exceptional home offers historic charm, modern comfort, and an unbeatable location. Choice Home Warranty good through 3/13/2028 transfers to buyer!
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.
