485 St Annes Pl, Covington, GA 30016
4 beds · 3 baths · 3,342 sqft
Welcome to 485 St. Annes Place, a meticulously maintained, one-of-a-kind home located in the quiet and desirable community of Covington, Georgia. This spacious residence boasts 4 bedrooms, 3 bathrooms, and an additional loft on the second floor, all within 3,342 square feet of expansive living space. Loaded with incredible upgrades throughout, this custom home seamlessly blends comfort and functionality for everyday living. Upon entering, you'll be greeted by a two-story foyer and an open-concept design that flows effortlessly through the living, dining, and kitchen areas—creating the ideal space for both relaxation and entertaining. As a special highlight, the main level (and more!) features upgraded wide plank engineered hardwood flooring, adding a touch of luxury to the home. The modern kitchen is a chef’s dream, equipped with stainless steel appliances, double ovens, gorgeous granite countertops, and a large island that offers ample prep space and a perfect spot for guests to gather. The two-story great room, complete with a gas fireplace, is a rare find in recent home builds. The main floor also includes a spacious guest room and a full bathroom. Upstairs, the owner’s suite serves as a private retreat, featuring a walk-in closet and a luxurious en-suite bathroom with dual vanities, a soaking tub, and a separate shower for a spa-like experience. The remaining bedrooms offer plenty of space for family members or guests, with a shower/tub combo to ensure comfort and privacy for all. Outside, the well-maintained backyard provides the perfect space for outdoor activities or unwinding at the end of the day. Located in the peaceful Westminster neighborhood, this home remains conveniently close to schools, parks, shopping, and dining options. Whether hosting friends, enjoying a quiet evening, or exploring the area, this home offers the best of both worlds: a tranquil retreat with easy access to everything you need.
Source: FMLS #7528712
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: FMLS #7528712
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. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
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 “Save search” 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 620, 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.