603 Alison Ct, Nashville, TN 37217
2 beds · 3 baths · 1,334 sqft
Reduced Price! Welcome to this charming 2-bedroom, 2.5-bathroom home in the desirable Edge-O-Lake subdivision—a rare find offering both comfort and potential. Whether you're a first-time homebuyer ready to create a space of your own, or an investor looking for a solid opportunity, this property has it all! Step inside to an inviting living space, ideal for both everyday living and entertaining. The spacious living area features a cozy fireplace, adding warmth and character to the home. The living area flows seamlessly into the kitchen, which is equipped with multiple appliances, making meal prep a breeze. A convenient half bath downstairs is perfect for guests when entertaining. Upstairs, both bedrooms feature ensuite bathrooms, offering added privacy and convenience. Plus, the washer and dryer hookups are conveniently located upstairs to make laundry day a breeze. Step outside to your private deck, the perfect space to relax or entertain while enjoying the outdoors. The carport provides sheltered parking, keeping your vehicle protected from the elements. For first-time buyers, this home offers a fantastic opportunity to own in a sought-after location with nearby amenities including schools, parks, shopping, and easy access to I-40. The blank walls are ready for your personal touch—bring your vision to life with your choice of colors and finishes. For investors, this property presents excellent potential for rental income or future value growth, thanks to its prime location and strong demand in the area. It’s a smart addition to any portfolio. Don’t miss this opportunity—schedule a showing today and make this versatile property yours!
Source: REALTRACS #2769145
Source: REALTRACS #2769145
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.
