MOTIVATED SELLER-PRICE IMPROVEMENT! Discover the perfect blend of luxury, privacy, and modern country living just outside the city. This captivating Cape Cod-style home in Middle Tennessee offers 3 bedrooms, 3.5 bathrooms, and endless charm across nearly 23 acres of scenic land - perfect for farm acreage buyers or anyone craving a peaceful lifestyle with room to grow. Imagine mornings sipping coffee on one of two expansive back decks while deer graze in the distance, afternoons tending to horses or gardens, and cozy evenings by the wood-burning fireplace beneath a grand brick mantle. The sunroom is a bright haven for plant lovers or those seeking a serene reading nook, while the country kitchen delivers timeless style with ample cabinetry, breathtaking views, and all appliances included. Hardwood floors flow throughout spacious common areas, and the full basement provides storage, a one-car garage, and storm-safe shelter. The land is a perfect mix of rolling pastures and mature woods with a pole barn and multiple outbuildings - fully equipped for homesteading, farming, or outdoor recreation. Located in a sought-after rural setting with Greenbelt tax status, no HOA, and no city taxes, this home checks all the boxes for buyers seeking tranquility, function, and long-term value. Whether you're upsizing for space or stepping into your dream of country life, this is the one you've been waiting for! Also, there is plenty of unfinished SF that is in the basement and the Seller was making an unfinished room upstairs a home theatre. (that already has sub floor) The theatre room was going to be able to sit up to 4 movie size recliners! So you are looking at PLENTY of unfinished square feet! Also, the first floor of the barn has 3,780 SF, the second floor(hay loft) has 2,205 SF and the chicken coop has electricity (right at 728 SF) In these areas, opportunities like this are rare - schedule your private tour and secure your own slice of Tennessee paradise!
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.
