1407 SE Walnut Creek Rd, Lawton, OK 73501
3 beds · 2 baths · 1,597 sqft
What a great find! As you walk into the front door you will see that it has a large foyer and great privacy as you will have to turn to take a short walk to the living room. And there you will find a brick fireplace with a bookcase on each side. As you walk through the living room you will come to the large dining room which is connected to the kitchen. The kitchen has a breakfast bar, lots of storage, a pantry, granite countertops, and stainless steel appliances. Off of the kitchen on one side is the primary bedroom with the primary bathroom that also has a granite countertop with a double vanity, stand-alone shower, whirlpool tub, and a walk-in closet. The washer and dryer area is on the other side of the kitchen and that leads out to the two-car garage. On the other side of the house, you will find two other bedrooms a guest bathroom with a granite countertop, and a bath with a shower. The backyard is very inviting with a covered patio, a large yard, and a shed. There are gutters around the whole house. The roof was replaced in Dec 2023.
Source: MLSOK #1155690
Financials
Source: MLSOK #1155690
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.
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