Lake Texoma barndominium with climate-controlled shop space in the highly desirable Washita Point area of Kingston, Oklahoma! Located less than a mile from the water, under 2 miles to Washita Point Beach, and less than 3 miles to Alberta Creek Marina, this versatile property offers the perfect combination of comfort, storage, and lake lifestyle living. Designed for low-maintenance living, the home features plantation blinds throughout, durable brick paver flooring, Frigidaire Gallery appliances, ceiling fans, and two HVAC systems serviced in December 2025. Enjoy morning coffee on the spacious **10x30 screened front porch** and unwind or entertain on the oversized **46x14 covered back porch**. The shop space truly sets this property apart. Attached to the home is an impressive **1,500 sq. ft. heated and cooled shop/garage** complete with sink, oversized **10x20 insulated overhead door**, and LiftMaster opener—ideal for boats, lake toys, hobbies, entertaining, workshop space, or additional storage. A separate **700 sq. ft. shop with 200 sq. ft. loft** adds even more flexibility for storage, projects, or guests. Outside, enjoy a crushed granite driveway, LED flood lighting on the front and back of the home, garden space with sprinkler coverage, a **7-station sprinkler system**, and a fenced backyard with 4-foot chain-link fencing. Conveniently located near **Catfish Bay Marina, Chickasaw Pointe Golf Club, West Bay Casino**, and the future **Hard Rock Hotel & Convention Center development**, this property places you in the center of one of Lake Texoma’s fastest-growing recreational destinations. Whether you're searching for a full-time residence, weekend lake retreat, or a property with exceptional shop space near Lake Texoma, this one checks the boxes.
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.
