55 Lakewood Estate Dr Spavinaw, OK 74366
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About this home
Welcome to 55 Lakewood Estate Drive — a well-built 3,200 sq ft red iron barndominium on 1.27 peaceful acres, just steps from Lake Hudson. With 2,000 sq ft of comfortable, open-concept living space, this 2 bed, 2 bath home offers the ideal setup for weekend getaways, full-time living, or hosting family and friends. Need room for your lake toys? The attached 1,200 sq ft shop/garage has plenty of space for your boat, RV, vehicles, and gear — all under one roof. Both the interior and exterior of the shop feature full RV hookups, making it easy to accommodate guests or prep for travel. Enjoy year-round lake views from the front and back patios, the living room, and even the primary bedroom — offering the perfect backdrop to relax, entertain, or unwind after a day on the water. A brand-new 2025 heat pump and indoor evaporator coil provide energy-efficient comfort year-round and come with a 5-year warranty for peace of mind. The property also includes a storm shelter, offering added safety during Oklahoma weather. And when it’s time to hit the lake, the Spring Park boat ramp is just around the corner, giving you quick and easy access to Lake Hudson without the hassle. Whether you’re looking for your next adventure base, a private retreat, or a lake place with serious storage and style, 55 Lakewood Estate Drive delivers.
Source: MLSTECHNOLOGY #2531922
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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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