3853 Lewis St
Norman, OK 73026
4 beds · 4 baths · 4,298 sqft
$749,000
Get prequalified3853 Lewis St
Norman, OK 73026
4 beds · 4 baths · 4,298 sqft
$749,000
Get prequalifiedVA ASSUMABLE LOAN AT 2.25%!! Welcome to your own private retreat, tucked away at the end of a quiet cul-de-sac in a peaceful neighborhood. Sitting on 2 secluded beautiful acres, this Tudor-style home offers space to spread out, unwind, and enjoy the best of both worlds: nature and convenience. Outside you'll find a pool with diving board and a charming pool house, complete with a full bath and kitchenette—perfect for guests, a studio, or home gym. The backyard deck was just redone providing the ultimate entertaining space! Walk down into the yard for additional play space and entertaining! Inside, hardwood floors flow seamlessly throughout the first floor with the heart of the home being the stunning updated kitchen featuring a massive island, a large gas cooktop with pullouts above, large walk in pantry and room to gather. There are two living areas, two dining spaces, and a designated study—giving you flexibility for how you live and work. The primary suite is fitted with a fireplace and its own sitting area with private access to the back patio. Upstairs, you’ll find three spacious bedrooms with large walk in closets, including one with its own en suite bathroom. There’s also a huge flex room—perfect for your seasonal decorations, hobbies, or creating the ultimate craft space. This property is quiet, spacious, has plenty of storage and closet space, and full of charm—yet just minutes to shopping and restaurants—this home is the kind of place you’ll want to come home to every day.
Source: MLSOK #1165101
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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.