7567 Old State Route 1 New Johnsonville, TN 37134
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About this home
Welcome to your dream home! This beautiful 2-story brick home is nestled on a sprawling 5-acre lot with a spring fed creek. This home offers the perfect blend of privacy and convenience. The property features a spacious garage, a well-maintained barn, central vacuum throughout the home, and a charming apartment/in-law suite, making it ideal for families or those who love to entertain. The apartment could be used as a rental instantly producing income. Key Features: 2-story brick home with a full basement, showcasing classic architecture . The unfinished basement has 1400 square foot that could be finished out to suit your layout or used as is . The kitchen has a walk in pantry. There are separate AC units for upstairs/downstairs . Newer carpet and AC units. Expansive 5-acre lot providing ample space for outdoor activities. Detatched garage with plenty of room for vehicles, storage or working. Barn, perfect for hobbies, storage, or livestock. Separate apartment/in-law suite, above garage, ideal for extended family, guests or income producing opportunities. With its own central unit. Don't miss this rare opportunity to own a piece of paradise. Contact us today to schedule a viewing and make this incredible property your new home!
Source: REALTRACS #2803302
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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.