597 Gregson Pl Waverly, TN 37185
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About this home
What a great place to raise your family! This home was custom built in 1991 and has 1835 feet finished on main level with a partially finished basement. The great room has cathedral ceiling, FP with gas logs! There are two bedrooms & 1 full bath on one end of the home. The master bedroom is on the opposite end and is spacious. It has a sitting area, two walk-in closets one being 9x8 along with a full bath. There are french doors with access to the back deck. The kitchen is improved with an island that has storage and seating area, oak cabinets, stainless appliances that remain, separate dining room & a large utility room with shelving. The two car garage has electric openers & is on the main level. The basement is improved with a large den/rec room, separate room for an extra bedroom or office, a large half bath, shop area with built-in work area & a storm shelter underneath the front porch. The home has hardwood flooring throughout with tile flooring in basement. There is a large deck on back with a trellis awning overlooking the back yard. You can enjoy the wildlife and the peaceful country living, but only 10 minutes from downtown Waverly. There is a concrete driveway, sidewalk, a 30x7 covered front porch with aggregate flooring. The lot is 6.30 acres! Set up appointment to see this lovely home!
Source: REALTRACS #3011344
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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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