21702 Park York Dr Katy, TX 77450
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About this home
Very nice, comfortable home, on a corner lot, with some upgrades after the original construction of the house. The garage,19'x18' has been adapted as addition living space but can be restored to be the garage. The adapted space is fully finished with bright recessed lighting and connected to the central air conditioning Currently, the adaptation adds about an additional 400 SF of living space. The kitchen is open to the living area adding interaction between the areas. Living area has a wood burning fireplace equipped with gas logs. There is a true laundry room that is not part of any passageway. There is a large, covered backyard patio attached to the house which gives an additional outdoor living experience. The lawn has a 9 zone WIFI controlled sprinkler system. The house is located within about a ten minutes' drive to the listed schools and close to an HEB and restaurants. Please verify all room sizes. Property may need a new survey. Professional photos to come.
Source: HAR #46807319
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FAQs
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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