163 Timberline Dr Mead, OK 73449
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About this home
Welcome to this beautifully updated home nestled among mature trees and just minutes from the shores of Lake Texoma. This charming property offers the perfect balance of peaceful country living with modern updates and conveniences, making it an ideal retreat or full-time residence. Step inside to discover a thoughtfully refreshed interior featuring brand-new flooring and fresh paint throughout, creating a bright and inviting atmosphere. The heart of the home is the large, open kitchen, equipped with sleek, brand-new appliances that will delight any home chef. Whether you’re preparing weeknight dinners or entertaining guests for the weekend, this space is both functional and stylish. The master suite has been transformed into a relaxing sanctuary with a remodeled bathroom showcasing updated finishes and a clean, modern design. It's the perfect space to unwind after a day on the lake or enjoying the outdoors. Outside, there is a 14 X 20 shop w/ cement floor, shelves, electricity as well as an RV hookup. The property is surrounded by mature trees that offer both shade and privacy. Enjoy your morning coffee or evening sunsets while taking in the pretty views from the porch or yard. The lot offers plenty of space for gardening, outdoor activities, or even future expansion. Exterior of home has new hardy plank siding. Located just a short drive from Lake Texoma, you’ll have easy access to boating, fishing, camping, and all the recreation the lake has to offer. Mead’s small-town charm combined with this home’s updates and proximity to one of Oklahoma’s most beloved lakes makes this a rare opportunity. This home is permanently affixed so will satisfy any type of mortgage or bank loan! Whether you're looking for a peaceful weekend getaway, a vacation rental investment, or a move-in ready home near the water, 163 Timberline Drive has it all. Don't miss your chance to own this updated gem in a prime location — schedule your showing today!
Source: MLSTECHNOLOGY #2532515
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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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