Welcome to 971 Cochran Road, a rare opportunity to own 10 private acres surrounded by protected land owned by the Georgia Wildlife Federation, creating an unmatched sense of privacy and natural beauty. Conveniently located just 10 minutes from both Covington and Social Circle, this property offers the perfect balance of seclusion and accessibility. The spacious 3-bedroom, 2.5-bath home is designed for comfortable everyday living and effortless entertaining. Inside, you'll find multiple living spaces including a cozy keeping room and a separate living room, both featuring inviting fireplaces that create warm gathering spaces throughout the home. A formal dining room provides the perfect setting for hosting family and friends, while the eat-in kitchen offers additional casual dining space and overlooks the surrounding property. An additional bonus space has already been stubbed and wired, providing an excellent opportunity for future expansion. Whether you envision a media room, guest suite, or additional bedroom, much of the groundwork has already been completed, creating an easy path to additional living space and instant equity. Outside, the possibilities are endless. The impressive heated and cooled 40x50 commercial-sized shop is a standout feature, complete with three roll-up bay doors, dedicated office space, and a bathroom, making it ideal for a business owner, hobbyist, car enthusiast, or anyone needing substantial workspace and storage. A unique intercom system connects the home and shop, making communication effortless, whether you're calling everyone in for dinner or coordinating projects across the property. Whether you're looking for a private homestead, a property with room to grow, or a place to enjoy the outdoors while remaining close to town, 971 Cochran Road offers a unique combination of acreage, functionality, and convenience that is increasingly difficult to find. Surrounded by nature yet minutes from modern amenities, this property delivers the privacy, versatility, and lifestyle that so many buyers are searching for!
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.
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.
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.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
