Welcome to 1508 Station Street, where calm living meets one of Edmond’s most exciting growth corridors. Tucked away on a quiet, low-traffic street, this move-in ready home offers the rare combination of peace, convenience, and future-forward amenities. Inside, the home is warm and inviting, anchored by a stone fireplace that adds character and comfort to the main living space. The layout is both functional and flexible, with three bedrooms located downstairs, ideal for everyday living, and a private fourth guest bedroom upstairs with its own bathroom, perfect for visitors or multi-generational needs. Outside your front door, the neighborhood delivers an optional resort-style experience, with the ability to join the pool, gym, and clubhouse, ideal for summer days, workouts, and community gatherings. An optional fee of $550 per year to join. Location is where this home truly shines. Just minutes away, a new 62-acre Sculpture Park at 2nd & Coltrane is currently under development, featuring walking trails, dog areas, playgrounds, and expansive green space. You’re also perfectly positioned near the rapidly developing Covell & Sooner corridor, soon to include Whole Foods along with a variety of new restaurants and shopping options. This is more than a home, it’s a lifestyle opportunity in a growing, thoughtfully planned part of Edmond. Quiet street, move-in ready condition, and proximity to what’s next make this one stand out. Home was temporarily removed from market to complete inspection related items and improvements are reflected in current pricing.
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.
