Discover easy, everyday living on Signal Mountain in this updated all-brick home, offering one-level convenience over a finished daylight basement on a ±0.30-acre lot. Ideally located close to schools, shopping, restaurants, and recreation-and just 15-20 minutes from downtown Chattanooga—this 4 bedroom, 2.5 bath home has been thoughtfully refreshed with an updated kitchen and baths, new interior paint, flooring, light fixtures, and more. The versatile floor plan provides flexible living options with the original primary bedroom on the main level, while the entire daylight basement can function as a spacious second primary suite, guest quarters, or additional living space. A covered front porch welcomes you into the sun-filled living room, highlighted by a large picture window that brings in beautiful natural light. The updated kitchen features painted cabinetry, granite countertops, and stainless steel appliances, and opens to a bright breakfast area with a barn door leading to the pantry. From here, you'll also find access to the staircase to the lower level and to a convenient side deck. The original primary is off the breakfast area and has a private half bath and secondary access from the center hallway. There are also 2 additional bedrooms, a nice linen closet and the full guest bath with a vessel sink and a tub/shower combo with tile surround. Head downstairs where you will find a 4th bedroom and a large hall bath with a jetted tub/shower and extra closet space. There is also a landing area with washer/dryer hook-ups, a rear door to a brick patio area, deck, driveway and the back yard, as well as the utility garage with a workbench. The driveway is gated and curves around to the back of the house so that the back yard can be enclosed for kids or pets. Simply a fantastic opportunity for the buyer seeking an updated Signal Mountain home close to all this desirable community has to offer, so please call for more information and to schedule your private showing
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.
