Welcome to 2001 Scarlet Circle in El Reno — a charming two-story home tucked away on a quiet cul-de-sac with a large, treed greenbelt area beside it, offering both privacy and space to explore. This 3-bedroom, 2.5-bath home features a spacious open-concept layout designed for comfortable everyday living and easy entertaining. The kitchen is complete with granite countertops, designer wood cabinetry, luxury wood-style flooring, energy-efficient appliances, and a brand-new dishwasher. The living room showcases new carpet, creating a fresh and inviting space to gather. Upstairs, you’ll find all three bedrooms along with the washer and dryer conveniently located near the sleeping quarters. The primary suite offers a comfortable retreat complete with a large walk-in shower and oversized walk-in closet, while the additional bedrooms are conveniently down the hall. Recent upgrades include a new hot water tank, reverse osmosis water filtration system, and a Wi-Fi enabled garage door opener. The home also features steel corner strapping for added structural reinforcement during strong Oklahoma winds. Step outside and you’ll discover a true backyard oasis. The oversized covered patio with soaring ceiling provides exceptional outdoor living space and includes a fully equipped built-in outdoor kitchen with running water, Blackstone grill, mini fridge, power outlets, and more. The above-ground pool and outdoor TV stay with the home — making this property ideal for entertaining, summer gatherings, and game days. Located within easy access to the ATV park, the lake and AC Air Park, this home also sits in a neighborhood featuring a pond, park, and walking trails. If you’re searching for a move-in ready home in El Reno with modern updates, outdoor living space, cul-de-sac location, and recreational access nearby — this one checks all the boxes. Welcome 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.
