515 S 10TH ST, Fernandina Beach, FL 32034
Welcome to this beautifully remodeled home located in the heart of Fernandina Beach, just a short stroll from the historic Centre Street. This property seamlessly blends modern amenities with timeless coastal charm, offering a perfect retreat for those seeking an island lifestyle. The DOWNSTAIRS SPACIOUS MASTER SUITE is a highlight of this home, combining 2 original BR's into one expansive suite. This space includes a large walk-in closet & master bath with quality upgraded finishes, creating a private oasis perfect for relaxation. The upstairs area features an ADDITIONAL PRIVATE BEDROOM SUITE with its own full bath, ensuring privacy and comfort for guests or family members. The MODERN & OPEN KITCHEN is designed for both style and functionality, featuring granite countertops, stainless steel appliances, and a farmhouse barn sink. The open-concept layout, along with luxury vinyl plank (LVP) flooring throughout, enhances the home's modern aesthetic while maintaining its cozy atmosphere. The home offers a tandem pass-through two-car garage with automatic doors on both ends, providing flexibility and convenience for parking and additional storage. Enjoy Florida's beautiful weather in the fully fenced backyard with ample shade from the mature trees, ideal for outdoor gatherings or a quiet afternoon. The covered front porch adds a charming space to relax with a book or to greet neighbors. Located across the street from the Peck Center and just a short walk from Centre Street, this property offers easy access to the best of Fernandina Beach, including dining, shopping, and entertainment. A rare find, combining modern updates with the charm of coastal living in a prime Amelia Island location.
You may be able to put down less than the total down payment amount of $212,811 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
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.
Frequently asked questions
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #2045528
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