120 Sarver Dr Springville, TN 38256
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About this home
Here is your opportunity to own the revered "Bright & Cheery Yellow House at the End of Sarver Drive"! Located near picturesque KY Lake, this home and approximately 1 acre of land offers plentiful potential & ample amenities. The open floor plan is permeated with natural light, has lofty 10-ft ceilings, & the easy maintenance lvp flooring throughout the home lends to a pleasing uniformity. The perfectly coordinated quartz countertops and glass backsplash in the kitchen fit right in with the lake vibes. You get to decide how to use the massive attached carport (18' high ceilings): entertainment, 5+ vehicle parking, storage, open a salon in the functional beauty shop that has a connected bathroom, and host friends and family that bring their RVs/ motorhomes because the carport is prepared for that too with its 220 outlet and hookups. Another option is to turn the beauty shop into living quarters (already has a bathroom) for a guest space, or you can use it as an AirBnB rental. Rounding out the major pluses of this property is an insulated, heated & cooled detached shop with its own driveway and turn-around spot. With the shop's attached storage, you have over 700 sq ft of useable space. Many other features at this home: tankless hot water, freight elevator for the storage loft, plantation shutters, encapsulated crawlspace, soft-close kitchen cabinetry, Generac generator, septic serviced in 2025, frost proof spigots (x3)... You won't regret taking a look at this one!
Source: REALTRACS #2971857
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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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