1325 NW 20th St Oklahoma City, OK 73106
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About this home
This historic Gatewood area home - with Guest House - offers a perfect blend of comfort/style & investment potential, all nestled on a spacious 1/4-acre corner lot. Hosting large gatherings or seeking a quiet retreat, this charming home has something for everyone. A large, fully fenced yard, surrounded by a canopy of mature trees, creating a peaceful, private oasis. Sunlight pours through abundant windows, highlighting gleaming hardwood floors. A convenient 1/2 bath is located on the main level. The spacious living room features the original fireplace, w/ French doors opening to a wraparound deck, ideal for relaxing evenings or lively gatherings. The designer kitchen is a true highlight, featuring Quartz countertops, a sleek gas cooktop, stainless appliances, farmhouse sink, subway-tile backsplash, satin-brass hardware, turning everyday meals into a gourmet experience. Just off the kitchen, the large dining room is perfect for intimate dinners or hosting holiday celebrations. The primary suite is spacious, sun-drenched retreat w/ its own fireplace, a luxurious spa-inspired bathroom, including an all-glass, tile-wrapped shower, and vanity. Secondary bedrooms are equally inviting, w/ vintage-style crystal doorknobs. Newly remodeled bathrooms add to modern comforts A large basement offers storage, fitness or hobby room, a new sump pump for peace of mind. Outside you'll enjoy the expansive wraparound deck, offering multiple seating, shaded areas beneath towering trees. Huge yard is ideal for weekend barbecues or quiet coffee mornings. Multi-generational living or additional income, there is a finished 420 sf accessory dwelling unit (ADU), ideal for Airbnb, generating $1,700 +- monthly income, consistently receiving top Guest House ratings/bookings. Close to top-rated Classen SAS Middle School, this home combines luxury, functionality, Guest House income potential in one extraordinary package. TWO homes for the price of one! 1,824 + 420 sf. Wonderful opportunity!
Source: MLSOK #1176167
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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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