5001 Ryecroft Ln Franklin, TN 37064
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About this home
This 4 bedroom - 3 full bath home in sought-after Ladd Park offers rare privacy, thanks to its location, surrounded by green space that will never be built on. Just steps away from the Harpeth River, this property blends peaceful living with community convenience. Walk just down the road and enjoy an afternoon in or on the Harpeth River. Inside, you’ll find an open-concept floor-plan with a bright kitchen, spacious living area, and modern finishes throughout. The primary suite includes a spa-style bath with a soaking tub and large walk-in shower. Step outside and enjoy your own backyard oasis. The covered patio has electric retractable sunshades to make your outdoor living even better. This 3 year old heated gunite pool can be enjoyed year-round and doubles as a near hot tub in the winter months - All pool needs are wifi equipped and it can all be managed from your phone. The pool also has brand new lights and a new salt cell. A few extras with this home - 3 month old roof with a 30 year transferable warranty - irrigation system - epoxy garage floors. With the extra privacy of no future neighbors behind or to the side, this home feels like a retreat in the heart of Franklin.
Source: REALTRACS #3001438
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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.