640 3rd St, Tracy City, TN 37387
4 beds · 2 baths · 2,230 sqft
Discover your new haven in Tracy City, TN! Situated in a charming neighborhood, this property offers the perfect blend of comfort and adventure. The living, dining, and kitchen areas seamlessly connect, providing an ideal space for entertaining guests or unwinding with family. Inside, the den provides additional space that can be utilized as a cozy retreat or transformed into a vibrant game room, perfect for hosting family game nights or entertaining friends. Outside, the expansive yard offers endless opportunities for outdoor enjoyment, whether it's hosting gatherings, gardening, or simply basking in the Tennessee sunshine. Step onto the spacious back deck, perfect for lounging or dining, and take in the serene views of the private back yard. Situated on an acre of land, this property provides ample space for relaxation and recreation. Plus, a detached garage offers convenient storage for vehicles and outdoor equipment. Conveniently located just 5 minutes away from both the breathtaking Fiery Gizzard State Park and Grundy Lakes State Park, outdoor adventures are always within reach. Explore scenic trails, go hiking, fishing, or have a picnic surrounded by nature's beauty. This home provides the perfect balance of tranquility and adventure, with schools and parks all within reach. Don't miss your chance to make 640 3rd St. Tracy City, TN your own oasis of relaxation, joy, and exploration! The seller prefers to sell this property As-Is.
Source: REALTRACS #2654628
Interest rate and monthly payment estimated based on public records.
Source: REALTRACS #2654628
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless closing.
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.
What 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.
MLS ID: #2654628
