3969 Cumberland City Rd, Indian Mound, TN 37079
3 beds · 2 baths · 1,550 sqft
Looking For Acreage & Charm, a Future Homestead or Mini Farm, a Family Compound, or Simply Room to Roam? You found it! Completely renovated Farmhouse w/ Custom Features, Recent Updates, & perfectly placed on OVER 5 ACRES w/ a 24x20 Detached Garage equipped with concrete floors and electric!!! Boasting over 1500 sqft of finished living space & approx 730sqft of unfinished possibilities. This 3 bed, 2 bath, with a bonus (or office) beauty boasts warm & inviting living spaces that will not disappoint. LVP flooring throughout (That's right NO CARPET), fresh paint, spacious Bedrooms, updated fixtures & so much storage space. Let's talk about that kitchen- Custom cabinets offering both style & storage, granite counter tops, stainless steel appliances & pantry. Homesteading, Mini Farm, gardening enthusiast, or simply looking for room to roam? THIS will be your private retreat. Country Living w/ a Storybook Setting, easy access to gate 10 & county taxes only?! With so much to love and explore, What are you waiting for? Come see the rest for yourself today. New Roof end of 2023, New Windows, New HVAC Unit, new LG appliances in 2021, New Granite Counters, New Cabinets, New Electrical Outlets, New Tile Backsplash, New Vanities, New Lighting! New Sheetrock, New copper pipes, wiring has been updated, New tubs/plumbing fixtures, New Doors, and base/frames throughout!
Source: REALTRACS #2773003
Interest rate and monthly payment estimated based on public records.
Source: REALTRACS #2773003
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.
