917 NW 20th St, Oklahoma City, OK 73106
4 beds · 4 baths · 2,406 sqft
**PRICE IMPROVEMENT!** Charming Airplane Bungalow in Mesta Park with Pool & Guest House! Primary home featuring 3 spacious bedrooms, 2 ½ baths, and a detached 460 sqft (mol) studio garage apartment/guest house – ideal for visitors or additional rental income. Gorgeous kitchen, boasting a gas range, soft-close drawers, Carrara marble countertops, a breakfast bar, a cozy dining nook, and a formal dining space. The inviting master suite is conveniently located on the first floor, offering a remodeled bathroom with dual walk-in closets and a serene atmosphere. Upstairs, you’ll find two generously-sized bedrooms and a full bathroom. Step outside to enjoy the stunning outdoor retreat. A large covered patio overlooks the pool with a tanning ledge and hot tub—perfect for relaxation and entertaining. The pool can be heated. The guest house is located above the detached garage and offers a full kitchen, a full bath, and a balcony that overlooks the pool! Additional features include a basement for extra storage, a beautiful front porch that wraps around to the side of the home, a sprinkler system, a security system, an automatic pool cover & the ability to control the pool/spa from an app on your phone. The home is also wired for a generator. The garage apartment is included in the sqft. Don’t miss this rare opportunity to own a unique property in one of Oklahoma City's most desirable neighborhoods!
Source: MLSOK #1153769
Financials
Source: Public records
Source: MLSOK #1153769
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.