12405 Jersey Rd, Oklahoma City, OK 73130
3 beds · 2 baths · 2,293 sqft
Get a free consultation call with an expert in the mortgage assumption process.
WONDERFUL 3 BED 2 BATH 2 CAR ON LARGE WOODED LOT, AT THE END OF THE CUL-DE-SAC. UNIQUE MASTER SUITE WITH SITTING AREA/STUDY, LARGE CLOSET, KITCHENETTE AND PRIVATE PATIO. MASTER BATH HAS SHOWER AND WHIRLPOOL TUB. LARGE OPEN LIVING, DINING WITH FIREPLACE AND BEAUTIFUL LARGE WINDOWS OVERLOOKING THE NICELY WOODED, FENCED BACK YARD. LARGE KITCHEN WITH SOLID SURFACE COUNTERS, ISLAND, AREA FOR DINING AND POSSIBLE STUDY AREA. IN-LAW FLOOR PLAN AND SECOND BEDROOM CONNECTS TO THE MAIN BATHROOM. OVERSIZED UTILITY ROOM WITH LOADS OF STORAGE. FOOTAGE IS OFF AN APPRAISAL NOT COUNTY RECORDS. THE HOME HAS MANY UPDATES INSIDE AND OUT. LIVING ROOM WITH FIREPLACE, DINING WITH BUILT-IN BUFFET. KITCHEN ALSO OVERLOOKS THE LIVING FOR THAT OPEN FEELING. HOME HAS WOOD PLANTATION SHUTTERS. ADDITONAL DRIVEWAY PARKING, OVERSIZED GARAGE WHICH IS 27 FT DEEP AND IS EXTRA WIDE. HOOK UP IN PLACE FOR ALL HOME GENERATOR. SELLER WILL REMOVE ABOVE GROUND CELLAR OR NEGOTIATE LEAVING IT. REFRIG AND MICROWAVE IN KITCHENETTE ARE NEGOTIABLE. CLOSE TO COMMUNITY TENNIS AND BASKETBALL COURTS AND POOL, LOVELY TRAILS.
Source: MLSOK #1150698
All values shown are estimated costs / mo.
Source: Public records
Source: MLSOK #1150698
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.
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.
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.
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 620, 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.