785 NW 3rd St Minco, OK 73059
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About this home
Welcome to this well-cared-for home nestled on 2 peaceful acres surrounded by mature trees, including a fruit-bearing pear tree. This property offers the charm of an older home with thoughtful updates, featuring some new flooring in the entry way, back door entry, laundry room, bathroom and kitchen. The bathroom has been beautifully updated with a newly tiled shower, new flooring and new paint and sheetrock. Inside, you’ll find two spacious living areas, providing plenty of room for gatherings or a quiet retreat. For peace of mind, the home also includes an underground safe room. The home also features an updated metal roof that is only 5 years old and newer vinyl siding. The bedroom off of the 2nd living room has been left as a blank canvas so the new owner can make it their own. Recently mudded and taped & trimmed out, just needs texture, paint and flooring. Outside, the acreage offers plenty of room to roam and enjoy country living. An older, uninhabitable home on the property is currently used as a storage building, adding extra utility; it will sell as is. This unique property combines comfort, character, and space to make your own. There is a water spigot located at the back of the property for great convenience if you wanted to have a shop building put up or put in a garden!
Source: MLSOK #1189520
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.