20 Alcovy Ct, Covington, GA 30014
4 beds · 2 baths · 2,374 sqft
Welcome home to 20 Alcovy Court, located in rural Covington, Georgia. This charming zero-entry ranch sits on over an acre, and is privately situated in a cul-de-sac ensuring less thru traffic. This home offers a serene atmosphere, featuring three spacious bedrooms and two full baths on the main level, plus an oversized additional flex space upstairs above the garage, providing ample space for your needs. Upon entering, you are welcomed by an airy, open family room that seamlessly connects to a bright kitchen and eating area. The cozy fireplace enhances the inviting main living space, perfect for entertaining. Adjacent to this space is an oversized master suite with a large en suite sitting room, updated full-tile shower in the master bath, and expansive walk-in closets. The kitchen boasts abundant cabinet space, a built-in desk, and a convenient nook leading to the garage. The fully fenced backyard oasis, visible from all rooms along the backside of the home, features a refreshing saltwater inground pool with additional deck-perfect for seasonal gatherings with family and friends to enjoy. Enjoy easy access to I-20 for a quick commute to Atlanta. The home is less than five minutes from historic downtown Covington, known for its great restaurants and movie filming locations. Eastside High School and Social Circle are also just minutes away. Bonus features include three outbuildings, two with power and one larger outbuilding with both power and water-ideal for a workshop or extra storage space. Lovingly cared for and maintained by its owners, this home is ready for you to create your own memories. ** Professional photos updated 8/28/24 **
Source: GAMLS #10357062
Source: GAMLS #10357062
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
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.
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.
MLS ID: #10357062