232 Covenant Ln Mcminnville, TN 37110
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About this home
Coming Soon! Discover country living at its finest with this stunning 3,400 sq ft home situated on 12.2 picturesque acres. This beautiful property perfectly combines modern comfort with rustic charm, offering space, style, and privacy. Step inside to an open-concept floor plan featuring concrete floors on the main level and an abundance of natural light from the large, beautiful windows in the living room/family area. The main level hosts a spacious primary suite,a wood-burning fireplace that creates a warm and inviting atmosphere in living room. The kitchen features quartz countertops, soft-close cabinetry, floating shelves, a gas stove, and double ovens—ideal for cooking and entertaining. Upstairs you’ll find an unique loft area that overlooks the main living space, perfect for relaxing or reading. The walk-out basement offers a second master suite with a full bath and fireplace, two additional bedrooms, another full bath, and a bonus area that’s great for a home office or playroom. All bathrooms have been updated with new vanities, and the home features two HVAC units for year-round comfort. Step outside to enjoy the newly stained deck overlooking your private acreage. The property also includes a chicken coop, a 15x25 shelter barn, and a shed—ready for your hobbies, animals, or extra storage. Peaceful country living with a springfed creek that runs year round. Water line that comes out of spring into field for optional use. Yearly mint and blackberries in field! See list of updates in mls photos. This property truly has it all!
Source: REALTRACS #3017873
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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.