1109 N Charlotte Ter, Mustang, OK 73064
3 beds · 2 baths · 2,470 sqft
Welcome to this beautiful 3 bedroom, 2 bathroom home with an office and a bonus room, nestled in the sought-after Savannah Lakes neighborhood! This freshly painted home offers a spacious 3-car garage complete with a storm shelter, ensuring safety and convenience. Step inside to find an inviting open floor plan with high ceilings, elegant finishes, and ample natural light. Kitchen offers 2024 Double Ovens, warming tray and a breakfast table area. A Formal dining room for family dinner and holidays. The office provides the perfect space to work from home, while the bonus room can be used as a playroom, media room, or even a home gym. It is currently used as a 4th bedroom! Enjoy your private backyard oasis, featuring your own private sparkling pool, perfect for cooling off in the Oklahoma summers. The covered back patio is ideal for entertaining, and during the 4th of July, you’ll have a front-row seat to breathtaking fireworks show! Living in Savannah Lakes means access to a community pool, two stocked fishing ponds, and a scenic lighted walking trail—perfect for evening strolls. Home has easy access to the Turnpike and Shopping. The new Mustang school is right around the corner. Don’t miss this incredible opportunity to own a home in one of Mustang’s most desirable neighborhoods! Call today to schedule your private showing.
Source: MLSOK #1161200
Financials
Source: Public records
Source: MLSOK #1161200
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.