12309 Kingsgate Dr, Oklahoma City, OK 73170
3 beds · 2 baths · 1,919 sqft
This beautiful home offers 3 spacious bedrooms, including a generously sized primary suite, 2 full bathrooms, and a study that can double an optional bedroom. The home features stunning crown molding, wood-look flooring, and large windows to let in plenty of natural light. The living area is highlighted by a cozy gas log fireplace, creating a welcoming atmosphere, while the formal dining area and breakfast nook provide ample space for family gatherings. The primary bedroom boasts a luxurious attached bathroom with double vanity sinks, newly tiled floors, and a massive 12-foot tall seasonal closet that wraps around the back of the primary shower. All the main flooring was replaced in 2022 with stylish, dark brown wood-look flooring. The expansive backyard is one of the largest in the neighborhood and is perfect for both relaxation and play. Enjoy a new pergola with a flagstone base, while one corner of the yard has been transformed into a fun play area with a large jungle gym, rubber mulch, and a border. Additional features include recently installed interior and exterior security cameras, permanent all-weather LED lights that can be customized in color and sequence, and a front/back sprinkler system. The home also comes with new, ready-to-use appliances, a Google Nest thermostat, freshly painted walls, and fiber internet options from Cox and AT&T. Nestled in a quiet, single-entry neighborhood with over 200 homes, this property offers a park at the end of the street with a playground and scenic views of a small lake. With everything you need and more, this home is perfect for families looking to settle into a beautiful, well-maintained space.
Source: MLSOK #1159464
Financials
Source: Public records
Source: MLSOK #1159464
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.