2327 Spring Place Rd SE Cleveland, TN 37323
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About this home
Welcome to 2327 Spring Place Road SE, a charming remodeled cottage that blends timeless character with modern comforts. Natural light pours across gleaming hardwood floors and highlights a cozy white brick fireplace at the heart of the living space. The kitchen and dining room showcase beamed ceilings, new stainless steel appliances, and elegant marble countertops, creating the perfect setting for both everyday meals and entertaining. The primary suite shares a luxurious walk-in shower with the second bedroom, complete with marble flooring and a striking dark marble tile backsplash. An additional full bath offers convenience for guests, while a versatile bonus area near the laundry room can serve as a playroom, media room, or home office. Important updates include a new HVAC system installed in 2022, along with a roof replacement and gutter installation completed in 2020, offering peace of mind for years to come. Step outside to a covered back porch with ample space for multiple seating areas, perfect for enjoying the peaceful surroundings. The true charm of this property is found outdoors, where a fenced backyard hosts raised garden beds, storage, and a cottage-style chicken coop designed to complement the home's exterior. This mini farmstead is ideal for those seeking a low-maintenance homestead with the cozy countryside appeal of a cottage retreat, all while remaining just minutes from the amenities of downtown Cleveland.
Source: REALTRACS #3000725
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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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