1232 Reelfoot Cir, Nashville, TN 37214
4 beds · 4 baths · 2,928 sqft
Exceptional home located on a large lot in a cul-de-sac with boat AND additional guest parking! This home offers 3 large bedrooms, 2 of which have their own full ensuite baths, and a half bath on the main level for your guests. The primary bedroom is on the main living level and has private access to your large deck which runs the full length of the home. A two story open living and dining area features a beautiful wall of windows with access to the deck, perfect for indoor/outdoor living and entertaining. This home also features a very large additional flex space in the basement with it's own private entrance, full ensuite bath and an additional flex room/office. This space could offer a perfect in-law or rental space. The garage is an oversized 2 car garage which could fit a small boat or you can use the additional space as a workshop. There is also a small shed for even more storage. Boat lover's dream home, be on the water in minutes, as you are 3 mins from Elm Hill Marina! You are also less than 10 mins from the airport, minutes from trails, greenways and other great outdoor activities around Percy Priest Reservoir.
Source: REALTRACS #2771002
Interest rate and monthly payment estimated based on public records.
Source: REALTRACS #2771002
Source: Public records
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.