1740 Lincoya Bay Dr Nashville, TN 37214
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About this home
Seller is offering $5,000 toward rate buydown!! Turn key, low-maintenance living with lake weekends minutes away! Assume 2.6% rate if qualifying owner occupant! Ideal for a first time homebuyer looking to stop renting! Or the perfect investment property to add to your portfolio!! If you're looking to downsize and simplify-this is also a great option!! Lock and leave lifestyle! Head to the airport, only 4.4 Miles away or to the lake, just 1.5 miles to Percy Priest! Price improvement!! Seller is extremely motivated!! Ready for a quick closing!! New Renewal by Anderson windows save you money on utility bills! The main level has a spacious floor plan with a large living room, half bath, and eat-in kitchen w/ great pantry! Stainless steel appliances! The Primary Bedroom is a true retreat with vaulted ceilings, two walk-in closets and a beautiful large window! The second bedroom also has a walk-in closet! The laundry is on the same level as the bedrooms—and the washer and dryer remain!! NO CARPET IN BEDROOMS!! Lots of floored attic space for extra storage!! Two designated parking spaces and lots of guest parking convenient to this townhome! Very close to the mailboxes! Enjoy a peaceful view of the trees from the back deck! Discover easy, low maintenance living in this move-in ready Nashville townhome. With the HOA covering the roof, grounds, and trash pickup, you’ll have more time to enjoy life! Whether that means a quick commute to Downtown Nashville, catching a flight from BNA, or spending weekends just five minutes (1.8 miles) away at Elm Hill Marina/Shipwreck cove on Percy Priest Lake! Love to boat, fish, kayak, or watch the game by the water at Shipwreck cove? Love to travel or work at the airport and need a quick commute? This one's for you! Enjoy your morning coffee on the covered front porch or just through the frech doors, you can unwind on the back deck. Save 1% of your loan amount in closing costs when using preferred lender!
Source: REALTRACS #3017086
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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.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.