16603 Railhead Dr Choctaw, OK 73020
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About this home
Welcome to 16603 Railhead Dr — a beautifully updated home on 1.24 acres in Choctaw Schools, offering space, comfort, and a perfect blend of modern upgrades and classic charm. With plenty of room to build your dream shop, this property is ideal for those seeking both functionality and lifestyle. The expansive covered front porch spans the entire length of the home, perfect for enjoying crisp fall evenings. Inside, the large living area features a cozy brick corner fireplace and brand-new luxury vinyl flooring that flows through all the main living areas and kitchen. The giant kitchen is a chef’s dream with abundant cabinetry, granite countertops, white subway tile backsplash, bar seating, and a spacious dining area perfect for holiday gatherings. The huge study offers flexible space and could easily be used as a fourth bedroom. The private primary suite includes a generously sized bedroom, an ensuite bath, and a massive walk-in closet. The secondary bedrooms are oversized and located on the opposite side of the home, sharing a fully updated bathroom with new tile. An enormous upstairs bonus room provides endless possibilities for a game room, theater, or second living space. Nearly every inch of this home has been updated, including all new plush carpet in the bedrooms and study, interior paint, baseboards, doors, and light fixtures. Exterior updates include a new roof, gutters, soffits, fascia, siding, cedar posts, and recessed dusk-to-dawn exterior lighting. This move-in ready home offers space to grow and modern comfort in a highly desirable area—schedule your private showing today!
Source: MLSOK #1191937
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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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