7804 NW 5th St Oklahoma City, OK 73127
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About this home
Welcome to a truly special property, lovingly maintained by the same family since it was built in 1961. This spacious 5-bedroom, 1.25-bath home offers approximately 2,800 square feet and blends timeless character with thoughtful updates. Recent improvements include a 2023 roof, two HVAC systems (one just 2 years old), remodeled kitchen and baths, fresh paint, and stylish tile and wood laminate flooring. With no known plumbing, electrical, HVAC, or roofing issues, this home is move-in ready. The flexible floor plan offers potential to convert an existing space into a sixth bedroom! Set on a beautifully shaded lot with mature oak trees, the outdoor space is a true showstopper—featuring over $100,000 in landscaping and amenities. Enjoy five patio areas, including two covered spaces with lighting and ceiling fans, one with an electric fireplace and Bluetooth audio. There’s also a granite patio with pergola, a wood fire pit, and a large wood rack. Gardeners and hobbyists will appreciate the 10x12 shop with its own breaker box, an 8x10 greenhouse with heater outlet, and a raised water collection barrel. A chicken coop with predator-resistant grating, multiple water features, a garden swing with rubber pavers, and a full-size flagpole add charm and functionality. Additional highlights include a walk-through arbor, guttering across the front, a two-car gabled carport with automatic lighting, and a dedicated generator receptacle wired into the main breaker box. The front and back yards feature a garden watering system designed to conserve resources while keeping your landscape lush. Included with the property are several outdoor enhancements: a six-seat glass-top picnic table, two storage bins, a full rack of seasoned hardwood, upright outdoor storage closet, propane patio heater, greenhouse heater, and a large selection of pots. Inside, enjoy a custom-painted coffee/wine bar that complements the kitchen, and a full-size tanning bed in excellent working condition.
Source: MLSOK #1194889
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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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