Perfectly positioned in Chattanooga's coveted North Shore, 388 Harper Street presents a rare opportunity to enjoy contemporary living in one of the city's most desirable neighborhoods. Just moments from Cherokee Boulevard, boutique shopping, dining, parks, and the Tennessee Riverwalk, the location captures the best of downtown Chattanooga living. Natural light fills the home, highlighting clean modern lines, hardwood flooring throughout, and a functional open layout. The kitchen features an eat-in bar, dedicated dining space, and an exceptional walk-in pantry with custom cabinetry, along with an oversized stainless refrigerator, gas cooktop, and open shelving. At the heart of the main level is a stunning enclosed terrace that serves as the home's central gathering space. Six sliding bay doors connect the kitchen, hallway, and great room, creating seamless indoor-outdoor flow ideal for both entertaining and everyday living. Outdoor living continues with multiple patios, a charming front veranda wrapped in blooming wisteria, a second-story covered porch with mountain views and refreshing breezes, and an additional patio just off the main terrace. Upstairs, the private primary suite features a walk-in closet with custom cabinetry and a beautifully tiled walk-in shower. Two additional bedrooms share a well-appointed hall bath. The finished basement adds valuable flexibility with a spacious recreation area and an additional room ideal for a home gym, office, or optional bedroom. This level also includes built-in cabinetry and its own ductless heating and cooling system. Both the main level and basement include convenient half baths. Additional highlights include a two-car garage, off-street parking, main-level laundry, and abundant storage throughout. With its rare blend of modern design, natural light and one of Chattanooga's most desirable North Shore locations, 388 Harper Street offers an exceptional opportunity to experience upscale urban living.
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.
