159 Sunset Dr Hendersonville, TN 37075
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About this home
You can't get much Closer to the Water than this! And the View! Current Owner purchased the home about 40 years ago. All he had to do was drive down the driveway and said 'I'll take it' before even stepping inside the home. The Panoramic Views are Stunning. You are minutes from the dam, so you can drop your boat down, and then on to Nashville!. DOCK PERMITTED! The home is a Beautiful 100 year old Cedar log cabin. Completely reconstructed in 1960. This Home could be someone's home away from home paradise, songwriters paradise, musician/studio combo, or income producing property. Give those musicians a place to stay while in town recording, writing, etc. Let the tranquility of the water revive your imagination. Or just come to enjoy the calmness from the chaos. It speaks to very simple living. Wash your own dishes at the original sink while watching the sunset. Take a walk with the birds, squirrels, rabbits and deer. Forgo all the hi-tech devices and let nature speak to you. Buyer/Buyer Agent to verify all pertinent information.
Source: REALTRACS #2823232
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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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