FHA
Active
40$359,000$185,773 equity gap
- Rate
- 2.97%
7.40%today- Payment
- $824/mo
$1,359today
- 4beds
- 2baths
- 2,300sqft
Michie, Tennessee
Assumable homes for salein Michie, Tennessee.
2 homes in Michie carry an existing FHA, VA, or USDA loan you can take over, with locked rates from 6.35%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Michie assumable market
by the numbers.
2active assumable listings
6.35%lowest locked rate
$322kmedian list price
$211saved per month vs. 7.2%
About the market
Assumable mortgagesin Michie, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Tennessee, filtered to Michie. Updated October 2026.
How assumptions work for buyersMichie, Tennessee has 2 homes for sale with an assumable mortgage as of October 2026: 2 FHA loans that a qualified buyer can take over at the seller's existing rate instead of financing at today's roughly 7.2%. Rates on active Michie assumable listings start at 6.35% with a median of 6.37%; 0 listings are under 4% and 0 are under 5%.
The median assumable home in Michie lists for $321,500, with a median of $56,223 in cash to assume, the gap between the price and the remaining loan balance. At the median assumable rate the principal-and-interest payment is about $1,704 a month versus $1,915 for the same balance at today's rate, roughly $211 kept every month and $2,534 a year. The most active Michie ZIP codes are 38357 (2).
UMe confirms the balance, rate, and assumability of each listing with the listing agent before marking it Certified. FHA, VA, and USDA loans are assumable by law, and you do not need to be a veteran to assume a VA loan. Once you are under contract, the loan servicer underwrites you rather than a new lender; most Michie assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Michie
View all 2 on the map Homes on the marketin Michie.
FHA
Active
39$375,000$67,600 equity gap
- Rate
- 6.35%
7.40%today- Payment
- $1,955/mo
$2,175today
- 3beds
- 2baths
- 1,746sqft
4970 Hwy 57, Michie
FHA
Active
31$268,000$44,519 equity gap
- Rate
- 6.39%
7.40%today- Payment
- $1,453/mo
$1,610today
- 3beds
- 2baths
- 2,068sqft
8809 Hwy 22, Michie
VA
Active
40$449,500$117,566 equity gap
- Rate
- 6.78%
7.40%today- Payment
- $2,208/mo
$2,350today
- 3beds
- 2baths
- 1,925sqft
625 TWELVE OAKS DR, Adamsville
FHA
Active
38$240,000$5,328 equity gap
- Rate
- 5.23%
7.40%today- Payment
- $1,380/mo
$1,734today
- 4beds
- 2baths
- 1,815sqft
292 MICHIE PEBBLE HILL RD, Stantonville
FHA
Active
38$79,500Potential short sale
- Rate
- 6.96%
7.40%today- Payment
- $1,314/mo
$1,373today
- —beds
- —baths
- 1,827sqft
445 LEW WALLACE RD, Crump
Live MLS collection. Loan balances, payment estimates, and cash-to-assume amounts update with the source listing. Taxes, insurance, HOA, closing costs, and secondary financing may change the final monthly payment.
Inventory snapshot
What’s in the mixin Michie.
Live counts from the MLS feeds we index for Tennessee. Updated October 2026.
- Active listings
- 2
- UMe Certified / verified
- 0
- Lowest rate
- 6.35%
- Median rate
- 6.37%
- Median list price
- $321,500
- Median cash to assume
- $56,223
Michie listings by locked rate
- Under 4%0 homes
- 4% – 5%0 homes
- 5% – 6%0 homes
- 6% and up2 homes
Michie listings by loan type
- FHA2 homesmedian 6.37%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Michie ZIP code.
Each ZIP opens the Michie map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Michie numbers
What an assumable ratedoes to a Michie payment.
The sliders start at the median Michie assumable listing: $321,500 list price and a 6.37% existing rate. We compare the payment you would take over against financing the same balance with a new loan at today’s 7.20%. Principal and interest only; taxes, insurance, and HOA dues are the same either way.
The gap between price and balance is the seller’s equity: your cash to assume, or what a second loan can help cover.
Cash to assume (seller’s equity)$55,000
17% of the price. Eligible buyers can start with as little as 5% down using a second loan for the rest.
Your monthly payment if you assume in Michie
$1,737/mo
New loan at 7.20%$1,799
Assumed at 6.35%
$1,737
Every month$62
Over five years$3,707
Interest you never pay$105,61926-year assumed loan vs. a new 30-year loan
Estimates for illustration. The real numbers depend on the loan, the servicer, and your qualification; every Michie listing on UMe shows the actual balance, rate, and payment.
How it works in Michie
How to assumea mortgage in Michie.
You’re not applying for a new mortgage. You’re stepping into one that already exists, at the rate it was written. Four steps, and UMe owns the hard one.
Start with pre-qualification- 01
Find a Michie home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Michie map by existing rate, monthly payment, or cash to assume instead of by list price alone.
- 02
Cover the seller’s equity.
You pay the seller the difference between the price and the remaining balance, a median of $56,223 in Michie today. Cash, a second loan, or seller financing can bridge it.
- 03
Qualify with the servicer, not a new lender.
The current loan servicer reviews your credit, income, and debt just like a lender would. UMe prepares the file, works the servicer directly, and chases every follow-up so the 45-to-90-day timeline holds.
- 04
Close and keep the rate.
The seller’s balance, rate, and remaining term become yours. No points, no origination fee, no reset to 30 years, and a Michie payment written in a different decade.
Michie questions
Assuming a mortgagein Michie.
The numbers below come from current Michie inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Michie?
As of October 2026, UMe tracks 2 active assumable listings in Michie. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Michie?
Current Michie inventory breaks down as FHA (2, median 6.37%). FHA, VA, and USDA mortgages are assumable by law, which is why they make up nearly all assumable listings. Conventional loans usually carry a due-on-sale clause and cannot be assumed. You do not need to be a veteran to assume a VA loan, though the seller's entitlement stays tied up unless you substitute your own.
What is the lowest assumable mortgage rate in Michie?
The lowest rate on an active Michie assumable listing is 6.35%, and the median across all 2 listings is 6.37%. 0 listings are under 4% and 0 are under 5%, compared with roughly 7.2% for a new 30-year loan today.
How much can I save with a mortgage assumption in Michie?
Across current Michie listings, the median principal-and-interest payment on the assumable loan is $1,704 per month versus $1,915 for the same balance at today's rates, a difference of about $211 every month, or $2,534 a year. The savings compound because you also keep the seller's remaining term instead of restarting a 30-year clock.
How much money do I need to assume a home in Michie?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Michie that gap is currently a median of $56,223 on a median list price of $321,500. Buyers cover it with cash, a second mortgage, or seller financing; UMe can connect you with lenders who write gap loans behind an assumption.
Which Michie ZIP codes have the most assumable homes?
The Michie ZIP codes with the most active assumable listings are 38357 (2). Use the map to draw your own boundary or filter by rate, payment, and down payment inside any of them.
How long does a mortgage assumption take in Michie?
Most FHA and VA assumptions close in 45 to 90 days. The loan servicer, not a new lender, underwrites you, and servicer turnaround is the main variable. UMe tracks the file with the servicer and the listing agent so nothing stalls, and every listing shows whether the assumption has already been confirmed with the seller's side.
Nearby markets
All of Tennessee More assumable homesin Tennessee.
Ready when you are
Stop overpaying for Michie.The rate is already on the house.
Every listing on the Michie map has a rate you can take over. Start with the ones in Michie, get pre-qualified in minutes, and let UMe carry the assumption to closing.