Welcome to Frisco Ridge one of Yukon's most desirable neighborhoods, known for its community park, gazebo, soccer field, and the kind of neighbors you'll never want to leave. This beautifully updated home has designed living space across two levels. Step inside through the arched stone entrance and covered front porch complete with a swing that stays with the home and you're immediately greeted by a soaring 18-foot entry and dining room that sets the tone for the rest of the house. Brand new mesquite wide-plank hardwood floors flow throughout the entire first level, while all new carpet and padding upstairs and in the master closet make every inch feel fresh. The open living room is anchored by a stunning stone wood-burning fireplace with a wooden mantle the perfect gathering place. The kitchen features a large island with breakfast bar, built-in gas range, built-in electric oven, and brand new Frigidaire Professional dishwasher and microwave. Freshly updated bathrooms throughout feature new granite countertops, new sinks, new faucets, new mirrors, and new light fixtures. The spacious primary suite offers a paneled accent wall, large windows for natural light, a private en-suite bath with double sinks and a private toilet, and a large walk-in closet with abundant storage. Upstairs, a large bonus room serves as a second living area for the upper bedrooms, and a private home theater w a 120" projection screen and brand new 4K projector both of which stay with the home. The home also features a dual-thermostat security system with interior and exterior cameras. From Seller: Elementary is Banner Public Schools. It’s K-8th. After 8th grade, people in that neighborhood have the luxury of choosing which 9-12 school they go to. Could be the highly desired Bethany, or Yukon, Mustang, or El Reno. Most choose Bethany because it’s a fantastic school system.
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.
