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5 Acres, East Tn, Owner Financing

Old Springs Road : Maynardville, TN 37807

Union County, Tennessee

5 Acres
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Lot Description

This is 5 mostly wooded acres just outside of Maynardville, TN. This is approximately 30 minutes north of Knoxville, TN and just a short drive over to Norris Lake. This is in Union County, TN.

This 5 acres is at the end of an old gravel drive. There is power at the front of the property. A well would be needed for water. There is already a SEPTIC tank installed on the property for sewer. Most of the land is wooded with the exception of a couple open areas towards the front. There are some really nice homesites on this property.

We offer 100% OWNER FINANCING. All that is needed up front is $300 that covers all closing costs. Interest rate starts at 11.5% and can be bought down to a low of 6.5%. For every 5% down, the interest rate is lowered 1%. Examples of payments are as follows:

nothing down at 11.5% is $285.80 monthly

5% down ($1,340) at 10.5% is $254.19 monthly

10% down ($2,680) at 9.5% is $224.83 monthly

15% down ($4,020) at 8.5% is $197.69 monthly

20% down ($5,360) at 7.5% is $172.72 monthly

25% down ($6,700) at 6.5% is $149.86 monthly

All payments are figured on 20 year financing. You can go longer or shorter to get a payment that fits your finances. There are no prepayment penalties and anything paid extra over the regular monthly payment all goes towards the principal. A warranty deed is provided when the land is paid off.

This is a great opportunity to get some affordable acreage so close to town but still in a private, country setting.

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