5160 Pratt St SW # 0, Covington, GA 30014
4 beds · 3 baths · 2,500 sqft
Get a free consultation call with an expert in the mortgage assumption process.
Welcome to Clarks Grove - one of Covington's most sought-after neighborhoods. This 4 bedroom, 3 1/2 bath craftsman style home is reimagined in nature. This home seamlessly blends the cozy and upscale charm of a quaint Craftsman-style with the convenience of city living. Just minutes from shopping & dining, and all the conveniences of living in-town, this home has it all. Let's start out with this great open-concept kitchen, with beautiful granite countertops, a gas range, double oven, plenty of cabinet space, and sleek stainless steel appliances. Beyond the kitchen, the breakfast room offers a front row seat to nature. Walk out onto a large private deck - and with these serene woodland views, you will feel like you are stepping into a tree house while you enjoy your morning coffee and watch the birds. Back inside is a separate and spacious dining room with views to the back deck, a beautiful light fixture, and judges panel that elevate the space - ready for quiet family dinners or entertaining guests. The family room is a warm but open space, with 10 ft ceilings, a gas fireplace, newly painted walls, and hardwood floors. A spacious half bath completes the space. Upstairs is a primary suite that leads out onto a large open front deck - perfect for enjoying more of what nature has to offer. Enjoy the primary bath with the large tiled shower, or take a luxurious bath in the garden tub under the large picture window that allows lots of natural light coming in. With two more spacious bedrooms and another large bath, you'll have plenty of room to spread out for years to come. This home also has a finished basement level for even more living - with a bedroom and full bath, a wine cellar, and additional storage. Neighborhood has a salt-water pool, fire-pit & recreation area, picnic pavilion, Montessori school, a large open green space, and direct access to the Cricket Frog Trail, i.e. Covington's belt line. If you're looking for turn-key convenience and want to live in one of the best neighborhoods in Covington, GA, you don't want to miss this new listing. Give me a call today to schedule your private tour!
Source: GAMLS #10511872
Learn about how it works
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: GAMLS #10511872
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.
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.
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.
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.
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.
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.
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 and Equal Opportunity Act.