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$639,900

905 Mansfield Ave, Nashville, TN 37206

2 beds · 3 baths · 1,635 sqft

Incredible newer construction craftsman style home with soaring ceilings, high end finishes, beautiful hardwood floors and so much more. This home features a primary suite on the main level as well as an open floor plan. freshly painted and move in ready! The best part? upstairs has been operated as a 23-24kk per year income producing airbnb for years. It has a completely separate entrance but also has access from the interior in case you wanted to keep it simple. you could live downstairs and operate the upstairs as an airbnb, would make a perfect recording studio, or simply use it as a bonus space! The possibilities are endless. The home is situated in one of the most walkable areas in East Nashville, Just a quick stroll to Mas Tacos, The Pharmacy, Lyra and so much more.

Estimated
Seller's interest rate
3.75%
7%
Estimated
Principal & interest
$1,730/mo.
$2,319
You may also save up to $158,567 in total interest paid.
Listing price
$639,900

Your cash down payment
$325,416
Seller’s estimated current equity is $325,416
To assume this mortgage you must cover the seller’s equity by using your cash or by combining your cash with gap financing.
Estimated $1,730 monthly payment

Financed
$314,483
Assumed mortgage 3.75% • Seller's rate
$314,483
2nd mortgage 9.25% • No prepay penalty
$0

Interest rate and monthly payment estimated based on public records.

Roam helps you take over the seller’s lower interest rate 1
We help you assume the seller's mortgage and avoid higher prevailing market rates.

Roam Protection Plan 2
Roam transactions typically close in the same amount of time as a standard home purchase. To give sellers added peace of mind, if it takes longer than 45 days, we will pay the seller's mortgage until we close.

Open House
Feb 16 • 2PM - 4PM
Location
Details
Home
Size
1,635 sqft
Lot size
0.06 acres
Year built
2017
Type
Single Family Residence
HOA dues
$0.00

Source: REALTRACS #2786163

Loan
Remaining term
22 yrs and 5 mos
Rate
3.75%
Monthly P&I
$1,730
Remaining loan balance
$314,483

Source: Public records

Who can qualify

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 resources
Frequently asked questions

What is Roam?

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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?

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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?

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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?

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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?

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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.

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Last updated: Feb 14, 2025 01:33 pm
Listing agent: David (Davey) Rowe-Mabee (615) 818-8452
Listing provided courtesy of: MW Real Estate Co. (615) 257-6300
Details provided by REALTRACS and may not match the public record.
MLS ID: #2786163
Based on information submitted to the MLS GRID as of Feb 14 2025 - 15:03. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Fair Housing Act logo Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.
Disclaimers
1 Roam connects buyers and sellers to homes with assumable mortgages via a concierge service. Roam does not offer or engage in mortgage lending activity.
2 30 day guarantee is subject to credit approval by your loan servicer.
3 The assumable interest rate shown for this assumable mortgage is an estimate using the average of interest rates in this home's area at the time of the last sale. The actual assumable interest rate may differ. Estimated payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Roam connects buyers and sellers to home with assumable mortgages via a concierge service. Roam does not offer mortgage loans, extend credit, make credit determinations, or otherwise engage in mortgage lending or brokering activities. The lender makes all credit and qualification decisions with buyers. Any determination to extend credit to a buyer is a decision by the lender, and not by Roam.
4 The lender makes all credit and qualification decisions with buyers. Any choice to extend credit to a buyer is a decision by the lender, and not by Roam.
$1,730/mo
View details