504 Catfish Ln, Conroe, TX 77384
3 beds · 2 baths · 1,926 sqft
Rare opportunity to purchase peaceful home 2 lots nestled on 1.31 acres in Lake Land. This neighborhood is constantly referred to as the best kept secret in The Woodlands area! The location features half mile private lake side path starting at the end of the driveway leading to College Park Plaza, 2 minute walk to the St. Lukes Medical Center, two minute drive to the Gosling sports field, The Woodlands Park and Ride and The Woodlands Mall, 10 minute walk to College Park High School and the College Park shopping center. This amazing neighborhood boasts nine stocked lakes and ponds with many secluded docks, islands, and places to relax and enjoy the nature. Home features a massive 45x47 two story warehouse with upstairs bathroom and multiple rooms, back up generator, secluded location on a dead end street with lovely neighbors, triple lake front view, yard structures perfect for chickens, dogs, gardens, plenty of shade with gorgeous trees, massive multipurpose room, fireplace & more.
Source: HAR #94009351
Interest rate and monthly payment estimated based on public records.
Source: HAR #94009351
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 45-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: #94009351
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.