Spacious and full of opportunity, this Porter, OK home sits on four lots totaling approximately 27,000 sq ft and offers an impressive 3,662 sq ft of living space (per Courthouse) providing plenty of room to grow, gather, and create lasting memories. Located just a short walk to Porter Schools and the city park, the property blends small-town charm with everyday convenience. Easy access to the Muskogee Turnpike allows for a smooth commute, approximately 30 minutes to Tulsa/Broken Arrow and just 15 minutes to Muskogee or Coweta. Built in 1991, this classic brick home features a versatile layout designed for both comfort and functionality. Inside, you’ll find a formal living room with a cozy wood-burning fireplace, a welcoming family room, formal dining area, kitchen with breakfast nook, and a dedicated office space complete with a half bath and private exterior entrance. Previously operated as a hair salon, this flexible space is ideal for a home business, guest quarters, or multi-purpose use. The spacious first-floor primary suite offers private exterior access, dual closets, and a large bathroom with double vanities, abundant storage, and a separate toilet room. Upstairs includes three generously sized bedrooms, two connected by a Jack-and-Jill bathroom, while the third enjoys its own private bath. Important updates have already been completed, including new HVAC systems and a tankless water heater (2019) as well as a new pool pump (2021). While cosmetic updates and a little TLC would further enhance the home, it is priced well below market value — creating an excellent opportunity for investors or buyers ready to add personal touches while building equity. Outside, mature trees frame the classic brick exterior, and the backyard provides a private retreat featuring decorative block privacy fencing, a large concrete patio, and an in-ground pool with diving board. A detached two-car garage sits just steps from the home for added convenience. Pool to be opened soon
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.
