617 Firelane Rd Edmond, OK 73003
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About this home
Well care for home just waiting for you to make it your own! Located at the back of the addition, the house has little traffic and is peaceful and quiet. In 2023 the roof was replaced along with the guttering and siding outside. This property features an open layout with Kitchen, Dining and Living area the center of the home. The kitchen has granite counters with plenty of cabinet space and a pantry as well. The dishwasher is new and there is lots of counter space for all your culinary creations. Above the living are is the loft bedroom with closet and attic access. The other 2 off bedrooms are separated by a full bath and have painted concrete floors. The primary bedroom has a vaulted ceiling and is joined to the spacious bath with double vanities. There is also a jetted tub and separate shower here with his and hers walk-in closets. The back yard features a comfortable patio for relaxation. There is a storage shed and fire pit in the back yard surrounded by a wooden fence. The owners have a dog run built around the outside of back yard. This is one you do not want to let get away. Located in the center part of Edmond puts you near all types of entertainment, shopping and dining experiences! Home is located near schools and not far from medical facilities. Call today to schedule your private showing and see that this home is just maybe the one you have been waiting for!
Source: MLSOK #1198065
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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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