428 Gwin Cemetery Rd Waverly, TN 37185
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About this home
Discover this remarkable 42.3 acre Tennessee property featuring a creek, open fields, a fenced pasture area, and woodlands! This well-constructed home has it all. The original homeowner, an engineer, personally supervised the construction to ensure it was built to last. With a total of 5,380 square feet—including an unfinished basement—this home offers plenty of space. The property spans approximately 26 acres of open land and 16 acres of woodlands, making it an ideal setting for a livestock farm or anyone who appreciates serene views of water, fields, and forests. Enjoy relaxing on the expansive back deck that overlooks the year-round flowing waters of Little Richland Creek! Inside, you'll find a spacious living room with stunning water views, an oversized laundry room, and a heated and cooled sunroom—perfect for a home gym or office. This home is move-in ready, or you can personalize it to make it your own! **Bonus features:** A whole-home generator, an EV electric car charger receptacle, RV Pad with electrical, two-car detached garage, a nice-sized pole barn, and in addition to the HVAC system, the basement is equipped with a functioning wood stove that provides ample heat! The home is ideally located close to town and just a short drive to the Tennessee River/KY Lake! **HIGH SPEED INTERNET**
Source: REALTRACS #2888157
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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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