12405 Jersey Rd Oklahoma City, OK 73130
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About this home
THIS 3BED IN-LAW PLAN HOME SITS ON A NICELY WOODED .37 ACRE CUL-DE-SAC LOT. (YARD EXTENDS OUTSIDE FENCED IN AREA) 2 FULL BATHS AND OVERSIZED 2 CAR GARAGE (EXTRA DEEP AND WIDE). ALL INTERIOR WOODWORK AND WALLS HAVE BEEN FRESHLY PAINTED, MAIN BATHROOM IS UPDATED WITH LARGE SHOWER. MAIN BATH HAS A SHOWER AND WHIRLPOOL TUB. EXTRA LARGE LIVING WITH FIREPLACE AND DINING COMBO WITH BEAUTIFUL LARGE PICTURE WINDOWS FOR NATURAL LIGHT AND TO OVERLOOK THE WOODED YARD. KITCHEN HAS SOLID SURFACE COUNTERS, ISLAND, PANTRY AND OVERLOOKS THE LIVING AREA. THERE IS ALSO SPACE OFF THE KITCHEN FOR ADDITONAL DINING, OPTIONAL STUDY OR FLEX SPACE. MASTER BEDROOM HAS GREAT CLOSET SPACE, FULL BATH, A PRIVATE PATIO, AN IN-SUITE STUDY/SITTING AREA AND IN-SUITE KITCHENTTE/REFRESHMENT /BAR AREA. INSIDE UTILITY IS LARGE AND HAS LOTS OF STORAGE. THERE IS AN IN FLOOR AND WALKIN CELLAR, COVERED PATIO FOR YOUR OUTSIDE ENJOYMENT AND PART OF THE HOOK-UP FOR A GENERATOR. JUST MINUTES FROM THE AREA POOL, TENNIS COURTS AND THE NEIGHBORHOOD TRAILS ARE BEHIND THE HOME. CHOCTAW SCHOOLS AND CLOSE TO MEDICAL, SHOPPING AND MORE. A COUNTRY FEEL IN TOWN. THIS WONDERFUL HOME IS LOOKING FOR A NEW OWNER, CALL TODAY TO SCHEDULE YOUR PRIVATE SHOWING. ALSO, THE CURRENT LOAN IS ASSUMABLE WITH A RATE BELOW 3%.
Source: MLSOK #1189616
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FAQs
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.
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