160 Cross Rd Covington, GA 30016
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About this home
Welcome to 160 Cross Road, a custom rural retreat nestled in the heart of Covington, GA. This stunning home offers a rare opportunity to own 35.89 acres of pristine countryside, complete with streams, fenced pastures for horses or livestock, and the serene Wild Cat Creek bordering the property. As you explore the expansive grounds, you'll discover a charming tree house with a thrilling zip line entry, providing endless adventures for the whole family. This picturesque 4-bedroom, 2-bathroom home boasts 2175 square feet of living space, with hardwood floors and a cozy wood stove creating a warm and inviting atmosphere. The main level features three bedrooms, while the primary bedroom offers a luxurious jetted tub for ultimate relaxation. The kitchen and bathrooms are adorned with elegant granite countertops, adding a touch of sophistication to the home. For those who love the outdoors, the property features a low-maintenance heated fiberglass pool with a diving board, slide, and captivating multi-color LED lighting, perfect for summer gatherings and leisurely swims. The expansive lot size of 1,563,368 square feet (38.89 acres) provides ample space for exploring what seems like endless nature trails all to yourself. Parking, includes a 2-car attached garage and a massive detached workshop capable of accommodating several vehicles and boats. High enough ceilings to add a lift or 2 for working on project vehicles or income generation for the mechanics out there. Enjoy the tranquility of the countryside while still being conveniently located less than 15 minutes from the shops and dining options in downtown Covington. Additionally, the property's proximity to downtown Atlanta and the world's busiest airport, both less than 40 miles away, ensures easy access to urban amenities and travel opportunities. Currently benefiting from rural conservation status, this property offers significant tax savings. For those concerned about development, the conservation status is set to expire at the end of the year, but it can also be renewed for those who wish to maintain the rural charm of the area. Embrace the rural lifestyle and seize this unique opportunity to own a piece of Georgia's breathtaking countryside. Whether you're an outdoor enthusiast, equestrian lover, or simply seeking a private sanctuary, 160 Cross Road is a rare gem awaiting its new owner. Don't miss out on the chance to experience the beauty and serenity of this remarkable property.
Source: FMLS #7617608
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FAQs
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.
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