Welcome to your dream retreat nestled on 7.85 peaceful acres in a quiet, lake centered community, this beautiful home offers 4 bedroom, 3.5 bath and offers the perfect blend of space, comfort, and privacy. Step inside to find soaring vaulted ceilings that open up the main living areas, creating a bright and airy feel throughout. The thoughtfully designed layout includes a formal dining room, and inviting sitting room, and a cozy breakfast nook, giving you plenty of space for both everyday living and entertaining. The combined area offers a welcoming embrace of family, fun and memories to be had. The home features three bedrooms with walk in closets, offering ample storage and convenience. You’ll also find two oversized bonus rooms. One bonus room upstairs, a bedroom and full bath offering privacy from the main below. The second bonus room the garage has been converted into a huge playroom/work out area /walk in laundry room and lots of storage. There is a huge master with ensuite beautifully tiled with walk in shower, water closet and huge walk in closet. Generac Solar panels, 2 window AC units, security cameras convey. There's a 3 bay garage/shop detached. Added peace of mind is the roof has been recently replaced 2026 and new water heater 2024. Circular driveway with a charming front fountain feature and hang out at the campfire area. Enjoy the calm and quiet of a lake neighborhood setting, where privacy meets natural beauty. Seller offering $10,000 in buyer concessions. Use it toward closing costs, rate buy down, or upgrades! This property checks all the boxes: space, upgrades, land, and location. Don’t miss your chance to own a slice of tranquility with room to grow. The South Cumberland Plateau has so much to offer in mountains, lakes and streams and close to Nashville, Chattanooga and Huntsville. 7.85 acres is combined on two parcels, 101 041.23 & 041.31 1133/734. Buyer/Buyer's Rep to verify Square footage and all information.
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.
