1605 Patriot Ave, Paris, TN 38242
3 beds · 2 baths · 1,769 sqft
**SELLERS OFFERING A 1 YEAR HOME WARRANTY WITH ACCEPTABLE OFFER**. Want to walk to Patriots football games? Want to watch the sunset behind the Paris water tower? Want to be centrally located to all Paris has to offer and be 15 min to KY lake? Well this is it!!! Beautiful brick home on large corner lot in the heart of Paris. This house is not shy of character with a nice open feel and a back patio that is perfect for listening to the cheers from Patriot stadium on a crisp fall night while you grill. Storm shelter for protection from the rough storms and a heated and cooled 3 car garage... that's right... heated AND cooled 3 car garage where you can park your cars and all your rec toys. Located in a great walking area close to all schools and amenities. New roof in 2024. This one is one you are going to want to see!!
Source: REALTRACS #2750255
Interest rate and monthly payment estimated based on public records.
Source: REALTRACS #2750255
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.
