354208 E 770 Rd Cushing, OK 74023
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About this home
Beautiful Farmhouse With Acreage And Multiple Workshops For Sale In Cushing, Oklahoma – Located In Payne County At 354208 E 770 Road, This Property Offers Nearly 80 Acres MOL With A 1,642 Sq Ft Home, Multiple Outbuildings, And A Peaceful Rural Setting. The Home Includes Three Bedrooms, Two And A Half Bathrooms, And A Kitchen With Reverse Osmosis Water Filtration. Outside You’ll Find Two Ponds, Two Storm Shelters, A Chicken Coop, Generac Generator, Two-Car Carport, And Five Workshops—Each With Unique Features. The Main 40'x60' Shop Has 8' Tall By 10' Wide Overhead Doors And A 220 Plug. Additional Shops Offer Insulation, Electric Overhead Doors, LED Lighting, 220 And 110 Service, And Updated Entry Doors. The Property Is Fenced With 6-Wire And 5-Wire Barbed Wire, With New Gates And Fence Sections Installed Between 2020–2023. Well Water, Water Softener, And Propane Support The Home, And Fruit And Nut Trees On The Property Include Peach, Thornless Blackberry, Black Walnut, Pecan, And More. Located Near Cushing—Known As The “Pipeline Crossroads Of The World”—This Payne County Property Combines Country Living With Proximity To Stillwater, Tulsa, And Oklahoma City. Cushing Offers Small-Town Charm, Local Amenities, And Strong Community Roots, Making It A Desirable Location In Central Oklahoma. Schedule Your Private Showing Today And Ask For The Video Tour!
Source: MLSOK #1186548
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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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