1069 Mcgregor Ln Cookeville, TN 38501
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About this home
Welcome to 1069 McGregor Ln, a sprawling 3,894-sq.-ft home designed to accommodate modern living with comfort & style. Brand new roof, guttering, & water heater & HVAC is 1 year old. Featuring 4BR/3BA & abundant space throughout, this property is ideal for families, entertaining, & more. Inside, the updated kitchen serves as the heart of the home, offering modern appliances, ample counter space, & thoughtful design that makes cooking a true joy. The open-concept layout seamlessly connects the kitchen to the dining & living areas, creating a warm, inviting space for gatherings. The living room features cozy fireplace, perfect for relaxing after a long day. Another amazing feature of this home is the private mother-in-law quarters, complete with its own entrance & flexible layout. This versatile space is perfect for use as a private office, studio, or even a potential rental opportunity to generate additional income. The primary suite is a soothing retreat with comfort & relaxation. Additional bedrooms are generously sized providing plenty of room for family or hobbies. Step outside to enjoy the expansive fenced backyard, ideal for outdoor activities or simply unwind in a private setting. The backyard includes a covered outdoor space & a conveniently placed deck, perfect for dining, relaxing, or entertaining. For car enthusiasts or hobbyists, the 3-car garage offers plenty of space, including a wonderful workshop area that’s ideal for working on vehicles, tackling DIY projects, or pursuing creative hobbies. The home also offers flexible laundry options. A convenient main-level bathroom can accommodate placement of a stackable washer & dryer, while a designated downstairs laundry room provides additional functionality & space for larger setups. Conveniently located near schools, shopping, dining & parks, this home truly offers the best of comfort, space, & location. Seller offering free 14-month warranty. Don’t miss the opportunity to make this your forever home!
Source: REALTRACS #2781555
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FAQs
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.
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