1213 Globe Rd, Lewisburg, TN 37091
4 beds · 3 baths · 4,343 sqft
This stunning 62-acre equestrian estate offers a rare combination of luxurious living, exceptional equestrian facilities, and a great income-producing property. The custom-built 4-bedroom, 2.5-bathroom traditional brick-style home spans 4,343 sq. ft. and boasts timeless craftsmanship with a beautiful wraparound porch, perfect for enjoying the serene surroundings. Inside, the spacious floor plan includes generously sized bedrooms, a gourmet kitchen, and multiple living areas, creating an ideal space for both family life and entertaining. Equestrian enthusiasts will be thrilled with the comprehensive facilities on the property. The large indoor riding arena features 52 oak slat stalls, LED lighting, and ample space for training and events. There are also two wash bays, 12 grooming cross ties, and 3 tack rooms for convenience. Additional amenities include a laundry room, a full bathroom with shower, a medical supply room, and a tool room. The property is crossed fenced with multiple paddocks and includes a horse barn, offering plenty of room for your horses. Current income-generating opportunities include billboard, apartment, horse boarding, training, hay production and a 5 acre commercially zoned tract for expansion. The estate features a charming 1-bedroom, 1-bathroom efficiency apartment with two covered porches, ideal for rental income or guest accommodations. The detached garage with a carport and storm shelter provides added utility and security. The property is equipped with essential utilities, including electricity, internet, city water, additional well, septic system and sewer available at the road for future expansion. Additional features include a 50x60 hay barn, hay fields, two ponds, and a creek, offering plenty of space for agricultural activities or further income possibilities. Showings by appoinment ONLY and must be scheduled in advance. Contact listing agent for any and all information. Parcels to be included are 069 011.02, 069 011.01, 069 011.00
Source: REALTRACS #2775500
Financials
Source: Public records
Source: REALTRACS #2775500
To qualify, you must meet the current FHA or VA 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%. 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.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
How can you find assumable mortgage listings?
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 “Get Notified” 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.
How do I qualify for an assumable mortgage?
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.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.