296 Penile Dr Decherd, TN 37324
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About this home
Welcome home to 296 Penile Drive, where comfort meets country charm! Nestled on nearly an acre of unrestricted Tennessee land, this spacious two-story home offers over 2,400 square feet of living space designed for everyday living and weekend entertaining alike. Step inside to find three generous bedrooms and two and a half baths, a large living area that welcomes natural light, and updated laminate, vinyl, and tile flooring throughout. The kitchen features a gas range, stainless steel appliances, and plenty of cabinet space, making it perfect for cooking up family favorites or hosting guests. The real showstoppers? Two massive detached shops and garages—ideal for car enthusiasts, hobbyists, or anyone needing serious workspace. Whether you’re wrenching on a project, storing your toys, or launching your next small business dream, this property has the room to make it happen. Outside, enjoy the peaceful surroundings of rural Franklin County while still being minutes from downtown Decherd, Tullahoma, and Winchester. With no HOA and unrestricted acreage, your options are wide open — build a garden, raise chickens, or just stretch out and breathe easy. Highlights: 3 Bedrooms / 2.5 Bathrooms 2,492 SqFt on 0.98 unrestricted acres Two large shops/garages ready for work or play Electric range, microwave, 2 refrigerator and all one washer and dryer included Deep freezers do not convey Central heat & air City water / Septic tank Convenient to Hwy 50, schools, and shopping Zoned for Decherd Elementary, North Middle, and Franklin County High School No HOA Video available attached links!
Source: REALTRACS #3006641
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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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