410 W Davis Dr, Nowata, OK 74048
3 beds · 2 baths · 1,823 sqft
This home is so inviting. It is right off Hwy 60 and has the feeling of peace and coziness! This home holds so much country charm! The home sets on a corner and has two extra lots. The exterior of the home is really nice. Enjoy the wood floor and high ceilings and the location. What is great about this house is the Master bedroom and nice size master bathroom is downstairs along with a bonus room that could be used as an office or even a bedroom if needed. The two other bedrooms are upstairs which sometimes is good for privacy. There is lots of storage upstairs which with a large family is very nice! The Kitchen has lots of cabinets and is a good size with space for a dinette. The garage in the back of the house is an extra bonus with its own, 100 amp breaker box ready for a 30 amp camper, and it is ready to hook up welding equipment. The Seller has purchase two extra lots for any future building such as a shop building. Located close to shopping, golf course and Hwy 60 access that helps makes commute to Bartlesville a breeze!
Source: MLSTECHNOLOGY #2511762
Source: MLSTECHNOLOGY #2511762
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.
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