1 of 75
$579,900

2760 Cave Springs Rd, Springfield, TN 37172

3 beds · 3 baths · 2,252 sqft

ASSUMABLE 3.875% interest rate A beautifully remodeled Dutch Colonial with NEW roof and NEW upstairs HVAC system awaits you! This home has so much to offer. As you approach the front door, walk through beautiful perennial gardens along the walkway with a unique water feature greeting you. Open the front door & see the living room with beautiful hardwood flooring & wood-burning fireplace. Antique cove molding adds a flair of yesteryear. An adjacent small room is perfect for an office, a small exercise room, or a home school setup! Enter the recently remodeled kitchen with Carerra marble tile backsplash, a large island with a butcher block top, & refinished antique butler’s pantry. The view through French doors is a 4 season sunroom with custom-made Roman shades & water resistant laminate flooring. A custom built cupboard provides extra storage. Look outside & see the multi-layered large deck, perfect for entertaining. An above ground pool will be a hit with your kids. The barn is to your right, past the 6’ privacy fence.There’s more to see indoors! The first floor also holds the master suite - a large bedroom, walk-in closet, & laundry room with shelving & folding table. The completely remodeled master bath, contains a jacuzzi bath, 5’ x 5’ no threshhold shower ADA compliant, & a dresser vanity with an antique kitchen sink!And there’s more! Upstairs is 2 bedrooms, the ability to have a 4TH BEDROOM in addition to the remodeled bathroom. Every room has a huge closet! There’s more! A full basement with a wood-burning stove; the main area of the basement is perfect to use your imagination and turn it into an indoor area for whatever you want! And a one-stall garage!Outdoors is MORE to see! A small orchard & 6 grape vines. The barn has an 8” slab, two sets of iron beams & support posts, & an upstairs perfect for storage, etc. On each side of the barn are 1-story areas, one side is set up as a chicken coop.

Estimated
Seller's interest rate
3.875%
7%
Estimated
Principal & interest
$1,378/mo.
$1,906
You may also save up to $172,731 in total interest paid.
Listing price
$579,900

Your cash down payment
$301,833
Seller’s estimated current equity is $301,833
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $1,378 monthly payment

Financed
$278,066
Assumed mortgage 3.875% • Seller's rate
$278,066
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

Roam Protection Plan 2
Roam transactions typically close in the same amount of time as a standard home purchase. To give sellers added peace of mind, if it takes longer than 45 days, we will pay the seller's mortgage until we close.
Location
Details
Home
Size
2,252 sqft
Lot size
1.61 acres
Year built
1976
Type
Single Family Residence
HOA dues
$0.00

Source: REALTRACS #2756561

Loan
Remaining term
27 yrs and 3 mos
Rate
3.875%
Monthly P&I
$1,378
Remaining loan balance
$278,066

Source: Public records

Who can qualify

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 resources
Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Last updated: Feb 13, 2025 01:30 pm
Listing agent: Amanda L. Bell (615) 406-9988
Listing provided courtesy of: At Home Realty (615) 792-6100
Details provided by REALTRACS and may not match the public record.
MLS ID: #2756561
Based on information submitted to the MLS GRID as of Feb 13 2025 - 15:32. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,378/mo
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