25751 E County Road 1690 Elmore City, OK 73433
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About this home
HUGE PRICE IMPROVEMENT!!! Beautiful farm/country style home on 20 acres. This property boasts luxury living in the country. Perfect horse property with a 40'x40' dirt floor barn with a concrete pad for a future tack room or to store hay and feed. The outdoor arena is 270'x190' with a sprint track for exercising your horses. The property is fenced and cross fenced and has a nice pond. The home was custom built in 2021 with an open concept design. Breakfast bar open to the dining and living areas. Throughout the home is custom cabinetry, stone counter tops and ceramic tile flooring that looks like rich wood flooring. Easy to maintain. Beautifully crafted, rich looking petrified wood for cabinets, vent hood and the fireplace mantel. Fireplace features a brick hearth with petrified wood mantle with a raised stone ledge and is real wood burning with a blower. Upper end kitchen appliances include diswasher, builtin microwave and propane stove with a griddle and double ovens. Gorgeous counter tops and backsplash. Unique light fixtures and ceiling fans throughout the home. There are covered porches on both front and back of the home. The backyard boasts a brick patio designed for gathering with family and friends around your firepit. A 24'x30' detached, insulated 2 car garage with openers is behind the house connected by a sidewalk making it easy to access and protect your vehicles from weather. Another insulated 20'x20' shop with a concrete floor can be used as a workshop. 220v outlet. A storm shelter sits behind the shop next to the home. There is a large utility room with space for a freezer. Endless hot water tank. Jetted tub and separate tiled Walkin shower and closet in the master bathroom. Master bedroom has a nook for your computer or a place to sit and read. The shingles are high impact Class IV so you can get an insurance discount! Well water for the property, rural water for the home. RV parking. This is a must-see home!
Source: MLSOK #1189680
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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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