Some people build a house. These sellers built a lifestyle. If you've been waiting for the one that has it all — solid home, acreage, privacy, AND a shop that makes grown adults cry happy tears — this is it. Tucked into a cul-de-sac on nearly 2 acres in Timberland Valley, the long gravel drive pulls you back from the world before you even walk in the door. The 2020 Craftsman/Dallas-style home offers 4 beds, 2 baths, and 1,877 sq ft. The living, dining, and kitchen flow together in one seamless open layout — wood-burning fireplace with electric insert, granite counters, bold blue island, and enough counter space to actually cook. The primary suite has large walk-in closet and is tucked away on one side of the home; the other three beds and full bath sit on the opposite side. The primary bath features dual vanities, a soaking tub, and walk-in shower. Let’s be honest, you’re here for the shop, and this 30x40 steel shop is the main event: 6" reinforced slab, pillars anchored 13" into footing, fire-retardant insulation, 220 power, two mini-splits, LED lighting, 12-ft direct-drive garage door, and a sliding glass door to a covered patio with string lights and all the ambiance you didn’t know you needed. Seller open to negotiating one of the vehicle lifts. The 20x30 concrete slab out front is basically a basketball court waiting to happen. Carport out back for overflow parking or storage. The details keep coming: whole-home water filtration, modified aerobic septic that irrigates the front and side yards, RGB LED soffit lighting, vintage backyard street light, photo-cell perimeter lighting, in-ground storm shelter, storage shed, fenced backyard area (dog owners, you're welcome), and a fire pit tucked along the treeline that feels like its own world. Cherry on top is the huge stocked pond, complete with dock access — bring your paddle boats and kayaks. Minutes to Guthrie Country Club, quick I-35 access to Edmond and OKC. 0% down USDA financing eligible.
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.
