Are you dreaming of peaceful country living, yet still want to be conveniently close to Nashville? Look no further than this charming home in Chapel Hill, Tennessee! Just 45 minutes from the city, this property offers a true escape from the noise, providing the perfect blend of tranquility and urban accessibility. This immaculate 3-bedroom, 2-bath brick home, built in 2017, sits on a spacious 1-acre lot, offering plenty of room to roam. You'll love the cozy covered front porch, perfect for enjoying your morning coffee or sunset views. Inside, the home boasts an open-concept design with vaulted ceilings, creating a bright and airy feel. The living room and dining room flow seamlessly, leading into a galley kitchen equipped with all stainless steel appliances (stove, refrigerator, microwave, dishwasher) that will remain with the home. Laminate flooring extends throughout the main living areas. The master bedroom features a private master bath with a double vanity, a separate "water room," and his and hers closets. The shower has ceramic tile, and the bathroom floors are vinyl tile. All bedrooms are carpeted and have ceiling fans, and the house is equipped with smoke detectors. Additional features include a back deck, a large front and back yard, a concrete driveway, and a 2-car attached garage. The home has central air and heat (electric). Beyond the property itself, you'll appreciate the opportunity for wildlife sightings right from your window. Plus, you'll have an easy commute to Nashville, and Henry Horton State Park is just minutes away. The park offers walking and hiking trails, bike trails, and nearby rivers for canoeing and fishing. You'll also find access to a skeet shooting range, cabins, a restaurant, and a golf course nearby. This beautiful property is a must-see! Please call soon to schedule your appointment.
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.
