Imagined in 1907 by architect S. A. Layton for Dr. Jackson. El Reno Historical maps place this beauty on this stately block beginning in 1908. Constructed of stone block she was envisioned to stand the course of time. A true testament to the construction of the day she still towers over her end of town and inside, many of her original features still gleam. This historic gem includes recents updates of roof, eaves, and french drains in 2024, hot tank 7/2025, updated windows, and new HVAC package unit can be left for new owners. (not currently installed). Walk back in time as you enter the grand entry hall, to your left is an oversized living room with wood burning stove and pocket doors leading to the study/parlor. Thru the main hall you find yourself marveling at the natural woodwork throughout and the grand dining room. Planning the holidays here feels like it is right out of a story book. To the back of the home you will find an extra large kitchen for its day with ample storage for our modern day appliances and a full bathroom with laundry. Out back, the home is generator ready and features a great workshop and detached two car carport. There is also a BBQ shack for those summer cookouts! Upstairs is a large primary bedroom featuring walk in closet. There are two additional bedrooms with large closets and a full bathroom with tub/shower combo. Central HVAC works great, window units are just for extra extra hot days if needed. Park and Historic El Reno are just blocks away making this a great walkable to home to some of El Reno's finest history! It is an honor to get to list this work of history and we would love to help this magnificent piece of history become yours today.
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.
