Back on market at no fault of seller. A rare opportunity to own a true mid-century gem in the highly sought-after Douglas Edgemere neighborhood of Northwest Oklahoma City. Built in 1957 and reminiscent of the iconic designs of Frank Lloyd Wright, this 3 bed, 2 bath home offers 2,083 square feet of thoughtfully designed living space where timeless architecture and modern comfort come together beautifully. Lovingly maintained throughout the years, the current owner has invested extensively in updates over the past five years while remaining true to the home's original mid-century character and glamour. Recent improvements include all new interior paint, including the garage, updated carpet and wallpaper, upgraded electrical, new HVAC systems and condensers, all new ceiling insulation, and custom steel return air grilles in the main living area. The chef's dream kitchen has been completely refreshed with high end appliances, including a double oven, dishwasher, induction range, and under-lit LED hood vent. Throughout the home, Hunter Douglas window treatments provide both style and energy efficiency while complementing the clean lines and architectural details that make this property so special. From the moment you arrive, you'll appreciate the thoughtful design, natural flow, and unmistakable character that set this home apart from anything else on the market. Douglas Edgemere is one of Oklahoma City's most treasured neighborhoods, known for its mature trees, distinctive architecture, and sense of community. Whether you're an admirer of mid-century design or simply looking for a home with personality this property delivers. Come experience the charm, history, and architectural significance of Douglas Edgemere for yourself. Homes like this rarely become available, and photographs only tell part of the story. Schedule a showing and discover why this remarkable home has been carefully preserved and thoughtfully updated for the next generation of owners.
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.
