227 Addison Ave Chapel Hill, TN 37034
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About this home
Welcome to this beautiful 5-bedroom, 3-bathroom home offering 2,613 square feet of open-concept living space. The home features a spacious layout with a convenient downstairs bedroom and full bathroom, perfect for guests or multi-generational living. The heart of the home is its expansive, open living and dining areas, filled with natural light and ideal for entertaining. The kitchen boasts modern finishes, stainless steel appliances, and plenty of counter space, making it a chef’s dream. The luxurious owners suite is located upstairs and offers a true retreat with two large walk-in closets and a private en-suite bathroom. The spa-like bathroom includes a walk-in shower, Spacious vanity, and water closet. Three additional generously sized bedrooms provide ample space for family or guests, and the home features one additional flex space and a large loft perfect for movie nights or indoor play. Step outside to the fenced-in backyard, an ideal space for kids, pets, or simply enjoying the peaceful views of the wooded area that backs up to the property. The rear fence height was lowered so not to obstruct the scenic views or wildlife sightings. The home is part of a vibrant community with access to a refreshing community pool, perfect for those warm summer days. Situated in a serene subdivision, this home combines modern design, thoughtful features, and a tranquil setting, making it the perfect place to call home.
Source: REALTRACS #2986758
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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.