Discover timeless elegance, exceptional space, and extraordinary potential in this beautifully crafted 3,767 sq ft home in the coveted Stonebridge community of Franklin, TN. With 4 bedrooms, 3 full baths, and an upstairs bonus room, this home offers generous living spaces that invite both connection and quiet retreat. While the property is in need of a minor refresh, it presents a rare opportunity to personalize and enhance an already remarkable home. Step inside to a warm, inviting layout that unfolds with effortless flow. A formal sitting room welcomes guests, while the cozy breakfast nook and kitchen gathering area set the stage for everyday living. The grand living room captivates with its soaring 20 foot ceilings, abundant natural light, built in entertainment center, and a gas fireplace that anchors the space with charm and character. The thoughtfully designed kitchen features extensive cabinetry, a center island with cooktop, an icemaker, double ovens, and bar top seating, perfect for casual meals and conversation. Just beyond, the screened porch and attached deck overlook peaceful surroundings and provide year round outdoor enjoyment. One of the home’s most compelling features is the full unfinished daylight basement, offering an impressive 1,400 sq ft of additional potential. Ideal for expanding your living space, it can easily accommodate a home theater, gym, extra bedrooms, or exceptional storage, allowing you to tailor the home to your lifestyle while adding significant value. The 2.5 car garage includes additional space for hobbies or a workshop, further enhancing the home’s flexibility. Located in the Stonebridge neighborhood, residents enjoy access to a community pool, playground, and wide sidewalks perfect for evening strolls. With its unbeatable Franklin address, spacious layout, and incredible opportunity for customization, this is a rare chance to create your dream home in one of Middle Tennessee’s most sought after communities.
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.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
