4881 Murfreesboro Rd, Lebanon, TN 37090
4 beds · 2 baths · 2,487 sqft
This all-brick basement rancher, situated on approximately 11 acres of leveled and partially cleared land, offers a solid foundation with endless possibilities for modern updates and customization. Designed with versatility in mind, the home is permitted as a two-bedroom, with both permitted bedrooms on the main level. Additionally, a bonus room on the main level and another in the basement provide extra flexibility to fit your needs. Two full bathrooms—one on each level—enhance convenience and functionality. Inside, a vaulted ceiling den adds to the spacious feel, while fireplaces bring warmth and character. The home's layout is both practical and inviting, offering comfortable living spaces that are ready for your personal touch. Beyond the home itself, the property includes a two-car attached garage, a two-car carport, covered RV parking, multiple storage options, and partially fenced areas. Outdoor living is just as convenient, with a covered front porch and a covered patio on the right side of the home, perfect for relaxing and enjoying the surroundings. With its solid structure, expansive acreage, and potential for customization, this home is ready for you to make it your own. The Nest Security system via ADT stays with the home, and the campers, tractors, and various farming equipment on the property are negotiable. Schedule a showing today to explore all the possibilities this property has to offer!
Source: REALTRACS #2784820
Interest rate and monthly payment estimated based on public records.
Source: REALTRACS #2784820
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.
