3.625% ASSUMABLE LOAN!! Welcome to this stunning 4 bed/3 bath home with 2,841 sq ft of thoughtfully designed living space in one of the area's most desirable communities. With an open-concept and timeless finishes, this home is sure to inspire. Inside you'll be greeted by a spacious living area filled with natural light and anchored by the cozy fireplace- the perfect spot for family and friends to gather. The kitchen features granite countertops, a generous breakfast bar, and beautiful appliances that effortlessly combine style and function. The primary suite is a retreat of its own, complete with a lush ensuite bath showcasing a double vanity, soaking tub, and walk-in shower. From the bath, you will enjoy direct access to your walk-in closet, which is adjacent to the laundry room for everyday ease. Two additional bedrooms and 2nd bath are located on the main floor. Upstairs, a spacious Bonus room provides endless options-it can serve as a secondary living room, game room, or office. This level includes a 4th bedroom and a 3rd bath. This immaculate home also includes an in-ground storm shelter, sprinkler and security system. Outdoor living is just as inviting with a covered back porch that includes remote-controlled retractable screens, allowing you to enjoy the space year round. Located in Sonoma Lakes, where neighbors become friends and seasons are filled with community traditions. Residents gather for the annual 4th of July parade, the festive Halloween celebrations and more, creating memories to last a lifetime. Outdoor enthusiasts can take advantage of the fishing pond, playground or walking trails. This is more than a neighborhood-it's a community where you'll feel right at home, a place where connections are built and laughter is shared. Conveniently located off of Sunnylane Rd, making commutes to Tinker AFB, Rose State, and anywhere in OKC or Norman easily accessible. Schedule your showing today and Make this exceptional property your next home!
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.
