8275 Elk Grv, Blanchard, OK 73010
4 beds · 3 baths · 2,806 sqft
Stunning Brick Home on Acre Lot in Gated Blanchard Community! Welcome to this beautifully updated three-bedroom, two and a half bathroom home with an office and a spacious bonus room upstairs, perfect for a game room, media space, or additional living area. Nestled on a large acre lot with mature trees and incredible landscaping, this property offers the perfect balance of privacy and convenience in the lovely Deer Run gated community, don't miss the neighborhood fishing pond. Inside, you’ll find a large living room with a cozy fireplace and an open-concept flow into the spacious kitchen, complete with all-new appliances that remain with the home. The washer and dryer, new in 2023, also stay! Thoughtfully designed, the home features custom ceiling fans, surround sound, and many more upgrades throughout. The primary suite is a true retreat with a walk-in shower, large closet with built-ins, and plenty of space to relax. Freshly updated with a new roof (2023), new paint (2023), and new carpet (2023), this home is move-in ready! The three-car split garage offers ample storage and parking, making daily life even more convenient. This property also has an FHA assumable loan at 5.25%. Don’t miss your chance to own this stunning Blanchard home—schedule your private showing today!
Source: MLSOK #1156313
Financials
Source: MLSOK #1156313
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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