222 Katy B Ln Bastrop, TX 78602
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About this home
Welcome to this beautifully updated 2,672 sq. ft. home, offering five bedrooms and a spacious, open-concept design perfect for modern living. The inviting living room features a cozy fireplace and seamlessly connects to the kitchen, creating an ideal space for entertaining. The kitchen boasts upgraded light fixtures, almost all stainless steel appliances, newly installed faucets. With two living areas and two dining areas, this home provides ample space for relaxation and hosting. The first-floor primary suite offers privacy and convenience, while all remaining bedrooms are located upstairs, along with a versatile game room. Outside, the large backyard is perfect for outdoor gatherings, gardening, or simply enjoying the open space. Recent updates include brand new flooring throughout the main downstairs areas, upgraded bathroom fixtures, and new windows in 90% of the home. A new AC was installed in 2021, and the roof was replaced in 2018. This home is in a prime location, within walking distance to the middle school and just five minutes from historic downtown Bastrop. Enjoy easy access to Hwy 71 for a quick commute to Austin, as well as nearby parks, restaurants, and shopping, including H-E-B right across from the neighborhood. This property is subject to a short sale. The home is offered as-is and subject to lender approval. Please note that the lender will need 30-40 days for approval of any offer.
Source: ACTRIS #5066174
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.