1018 Isaac Franklin Dr, Gallatin, TN 37066
3 beds · 3 baths · 2,600 sqft
"Dream Home on Old Hickory Lake - A Rare Gem! Prepare to be captivated by the stunning curb appeal of this exceptional home, perfectly situated on the shores of Old Hickory Lake within a prestigious golf and lake community. This beautiful lakeside retreat boasts a private dock, ideal for water enthusiasts, and a covered porch with a built-in hot tub, where you can relax and take in the breathtaking lake views. The wood-burning fireplace adds a cozy touch to the home, perfect for enjoying peaceful evenings. Step inside, and you’ll find an open floor plan designed for effortless entertaining and family gatherings. The thoughtfully laid-out interior seamlessly blends style and functionality, providing ample space for making lasting memories. Enjoy the serene surroundings of lakeside living with the convenience of nearby amenities, and with just a short drive to Nashville, you can enjoy the best of both worlds. Don’t miss the chance to own this slice of paradise! Call today to schedule your private showing."
Source: REALTRACS #2762589
Source: REALTRACS #2762589
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%. 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.
Other resourcesWhat 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.
