This beautiful farmhouse sits on 60 picturesque acres and welcomes you with a classic wrap-around porch that captures the charm of true country living. The home has been well-maintained with a newer roof and an HVAC system installed just two years ago, offering comfort and peace of mind from the moment you arrive. A gated entry leads you down a long, winding driveway that opens to the home and surrounding improvements. The property includes a 40'x50' barn, a 12'x24' portable building, and a lean-to in the pasture that provides excellent shelter for livestock. An oversized garage offers plenty of room for vehicles, equipment, and storage. For added safety, an above-ground storm shelter is conveniently located on the property. Outdoors, you’ll find a beautiful in-ground swimming pool complete with a solar cover and recently updated pumps and filters, creating the perfect place to relax and enjoy warm Oklahoma days. A peaceful pond adds to the scenery and provides a great water source for livestock or recreation. The land is a balanced mix of approximately 50% wooded and 50% open ground, giving you the flexibility to run livestock, hunt, explore, or simply enjoy the natural beauty around you. Whether you’re looking for a working farm, a private retreat, or a place to build your ideal rural lifestyle, this property offers the space and versatility to make it happen. Conveniently located, the home is about 20 minutes from Ada, 10 minutes from Seminole, and roughly two and a half hours from Dallas, making it easy to enjoy both small-town amenities and major city access while still living in peaceful seclusion.
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.
