232 Majestic Trl, Collierville, TN 38017
4 beds · 3 baths · sqft
Welcome to this Beautifully Maintained 4BR, 3.5BA Brick Home, Built in 2016 and Nestled in one of Collierville's Most Desirable Neighborhoods. This Home offers the Perfect Blend of Modern Elegance and Southern Charm, Featuring an Open-Concept Layout, High Ceilings and an Abundance of Natural Light. The Gourmet Kitchen Boasts Custom Granite Countertops, Stainless Steel Appliance package with Gas Cooktop and Refrigerator. Spacious Island is Perfect for Family Gatherings. The Two Inviting Living Areas Feature Cozy Fireplaces! Enter into the Spacious Primary Suite and find a Spa-Like Bath with Walk-Through Shower, Double Vanities & Walk-In Closet. With one Additional Bedroom & Bath Down and two Bedrooms, Full Bath and Huge Bonus Room/Game Room Upstairs, there's Plenty of Space for Family and Visitors. Step outside to enjoy the Beautiful Backyard and Amazing Covered Patio which Features an Additional Fireplace! Great for Outdoor Gatherings! Located just minutes from Collierville Schools!
Source: MEMPHISTN #10192501
Financials
Source: MEMPHISTN #10192501
Source: Public records
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%. 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.
Other resourcesWhat 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.