7738 Fawn Cir, Covington, GA 30014
3 beds · 3 baths · 1,737 sqft
Welcome home to this better than new and charming 3-bedroom, 2.5-bath END UNIT townhome, located in the sought after Townhome Estates community in Covington! This immaculately kept home offers a perfect blend of comfort and modern luxury. As you step inside, you're greeted by beautiful new luxury vinyl plank flooring that flows seamlessly throughout the entire home. The open concept floorplan provides ample room for both relaxation and entertaining in your living room with fireplace with view to the awesome kitchen and additional space for office or playroom. The spacious kitchen is a true highlight, featuring sleek pendant lights, granite countertops, custom cabinetry, and stainless-steel appliances, including the refrigerator and washer/dryer. Whether you're cooking a gourmet meal or hosting friends and family, this kitchen is sure to impress! A half bath on the main floor, adds extra convenience for guests. The primary suite offers a peaceful retreat with a generous walk-in closet and en-suite bathroom with modern finishes. Two additional bedrooms are perfect for family, guests, or even a home office, with a full bathroom conveniently located nearby, along with the separate laundry room. Outside you will find a private backyard that offers easy access to the walking trail that leads to the quaint downtown Covington. This lovely home is ideally located close to I-20, schools, shopping, in addition this Townhome Estates offers a dog park and attractive green spaces! With its tasteful finishes, open layout, and attention to detail, this home is designed for modern living at its finest. Don’t miss your chance to make this dream home yours!
Source: FMLS #7537294
Source: FMLS #7537294
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.