Discover your next and best chapter in a home close to Tinker, Elementary School, Rose State, major shopping and eateries! Home is blessed by a crisp white brick exterior, bold black accents, and a beautiful front yard! Step into the expansive living room, highlighted by gorgeous wood flooring and a vaulted ceiling, anchored by a striking black accent beam, ceiling fan, brick fireplace with mantel, and built-ins to the right. Living room flows into the dining area, bathed in natural light from a gorgeous three-window bay and illuminated by a minimalist modern chandelier. Kitchen boasts classic tile countertops, matching backsplash, and soft gray cabinetry with modern pulls. Hallway connecting the kitchen, foyer and living features an abundance of storage options. Primary suite embraces a contemporary vibe with dark charcoal walls and matching ceiling, while perfectly contrasted by plush carpeting, a sleek ceiling fan, and a unique ensuite vanity space! A private powder room with shower and a sizeable walk-in closet on opposing sides of the vanity! Both secondary beds offer versatile space with walk-in closets and ceiling fans. Guest bathroom features a fresh, bright design with a long single vanity, ample linen storage, and a private powder room with a shower-tub combo. Laundry area is before the garage and close to the kitchen with ample head knocker cabinet space! Double glass doors in living room provide access to the spacious backyard, featuring a covered patio, perfect for outdoor relaxation and entertainment. Don't miss out on this one-of-a-kind home! Be sure to enjoy the 3D and video tours! Then schedule your private viewing to see all these unique details in person!
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.
