908 Carolyn Ridge Rd Norman, OK 73071
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About this home
Step into this stunning three-bedroom, two-bath home featuring a spacious entryway with 10-foot ceilings and textured walls and ceilings that add character throughout. The inviting living room showcases tall bay windows, a gas-log fireplace with a brick hearth and hand-scraped wood beam mantle, creating the perfect focal point for gatherings. The dining area, highlighted by a custom chandelier, flows seamlessly into the comfortable kitchen space, which offers a breakfast bar with granite countertops, stone-tile backsplash, stainless steel appliances, a flat-top built-in stove, built-in microwave, pantry, and brushed bronze faucets and fixtures. The primary suite impresses with its elevated ceiling, bay windows overlooking the backyard, and wood-like tile flooring. Its spa-inspired bathroom features tile flooring, dual sinks, a private toilet room, a large soaking tub, a walk-in shower, and an expansive walk-in closet. Both guest bedrooms include wood-like tile flooring, standard closets, and elegant design touches—one with a raised ceiling and ceiling fan, the other with standard ceiling height and lighting. The guest bath includes a tub/shower combo. Additional conveniences include an entryway coat closet, hallway linen closet, and a laundry room with cabinetry, shelf, and granite counter. Enjoy outdoor living on the covered back patio, complete with chandelier lighting and a gas line hook-up for a grill or hot tub. The home also includes 2-inch wood blinds in the bedrooms and a covered front porch. A two-car garage, security system, and an unbeatable location close to entertainment, dining, and shopping districts, with easy access to I-35 and less than 15 minutes from the University of Oklahoma, make this home a perfect blend of comfort, style, and convenience.
Source: MLSOK #1196406
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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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