1125 SW 78th Ter, Oklahoma City, OK 73139
4 beds · 3 baths · 2,710 sqft
Opportunity awaits in south Oklahoma City! With 2,710 square feet, this 3-bedroom, 2.5-bathroom home offers incredible potential for those ready to bring their vision to life. Conveniently located near I-240 and just minutes from the restaurants and shopping along Western Ave, this property is a rare chance to create something truly special. Inside, the flexible floor plan provides two living areas, a dedicated study/office, and a bonus room, giving you plenty of space to customize. The large fireplace hearth adds character and warmth, while generous storage, walk-in attic spaces, and oversized closets ensure everything has its place. The enormous kitchen is ready for a refresh, offering plenty of room to create the perfect gathering space. With its generous square footage, the home offers plenty of space to reimagine and customize to your taste. Step outside to a backyard built for entertaining, featuring a large in-ground pool just waiting to be revitalized for summer fun. Whether you’re hosting gatherings or enjoying quiet weekends by the water, this outdoor space has incredible potential. This home is a blank slate full of opportunity for the right investor, or homeowner ready to take on a project. Don’t miss the chance to transform this spacious home into something spectacular—schedule your showing today!
Source: MLSOK #1158628
Financials
Source: MLSOK #1158628
Source: Public records
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%. 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.
Other resourcesWhat 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.