423 Prairie Tea Ln, Canyon Lake, TX 78133
4 beds · 2 baths · sqft
Welcome to Your Texas Hill Country Retreat! Imagine coming home to this stunning property nestled on a generous .5-acre lot in the highly sought-after hills of Canyon Lake in the gated Summit North Estates. This beautiful, one-owner home offers a lifestyle of relaxation and adventure, just minutes from Canyon Lake, Potters Creek Park, and several boat ramps. The open floor plan is perfect for entertaining, with plenty of natural light flooding in through large windows. Featuring four spacious and comfortable bedrooms, including a garage conversion ideal for older children coming home from college or accommodating out-of-town guests, this home is designed with family in mind. Cozy up during cooler evenings by the wood-burning fireplace in the inviting living room, and enjoy the tranquility offered by the split bedroom layout. The large front and back porches are perfect for enjoying morning coffee or evening sunsets, making outdoor living a delight. The generous lot provides ample space for outdoor activities, whether it's playing with the kids or hosting a barbecue. The fenced backyard features a charming gazebo for relaxing afternoons, a shed for additional storage, and a safe kennel space for your pets to roam. With approval, this subdivision allows chickens!! There's even convenient RV parking. Located centrally to San Antonio, Austin, and Hill Country attractions, this home offers easy access to all the amenities and attractions of these vibrant cities, providing a perfect balance of peaceful country living and urban convenience. This home isn't just a place to live-it's a lifestyle. Whether you're looking to create lasting family memories, entertain friends, or simply enjoy the serene surroundings, this property has it all. **Included with the purchase are the mounted living room TV, picnic table with umbrella and chairs, the gazebo, an igloo, a 10x10 dog kennel, an outdoor fire-pit, and the gazebo and chairs.
Source: SABOR #1785971
Interest rate and monthly payment estimated based on public records.
Source: SABOR #1785971
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 30-day close.
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.
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.
MLS ID: #1785971
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.