Rarely do you find a property that perfectly balances a modern, polished interior with the kind of sprawling outdoor space that’s becoming harder to find in Murfreesboro. Sitting on a massive lot of over an acre, 507 Morris Drive offers that elusive sense of elbow room without sacrificing style or convenience. Step inside and you’re greeted by a home that feels fresh and thoughtfully updated. The kitchen is a total standout, featuring sleek finishes that make everything from morning coffee to hosting dinner parties a breeze. The bathrooms have received the same treatment, offering a crisp, spa-like feel throughout the home. The layout is designed for easy living, with the primary owner’s suite tucked away on the first floor—a must-have for comfort and longevity. Downstairs, you’ll find a generous bonus room that’s ready for whatever your lifestyle demands, whether that’s a dedicated movie room, a quiet home office, or a massive play space. But the real magic happens when you step out back. With over an acre to call your own, the possibilities are endless. There’s room for a pool, a workshop, a massive garden, or just plenty of space to run and breathe. It’s the kind of backyard where memories are made. If you’ve been looking for a move-in-ready home with some serious land to go with it, this is the one. Come see why life on Morris Drive is so special.
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.
