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.
Source: REALTRACS #2756561
Interest rate and monthly payment estimated based on public records.
Source: REALTRACS #2756561
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.
