5810 Red Cedar St, Pensacola, FL 32507
4 beds · 3 baths · 2,502 sqft
**VA ASSUMABLE LOAN AT 2.36% FOR QUALIFIED VA BUYER!!** Nestled in the heart of a beautifully gated community on Innerarity island, this charming craftsman-style home is a true gem waiting to be discovered. With 4 bedrooms, 3 bathrooms and bonus room spread across 2,502 square feet of living space, this all-brick residence offers ample room for comfortable family living and entertaining. The island also offers private beach access, pier, kayak launch and pickleball courts!! Step inside and be greeted by the warm ambiance of luxury vinyl plank flooring in the common areas, while wall-to-wall carpeting in the bedrooms and bonus living area ensures cozy comfort underfoot. The heart of the home, the kitchen, boasts elegant granite countertops, beaded cabinets, and a stylish backsplash. Cooking enthusiasts will appreciate the gas double oven range and stainless steel appliances. The primary bedroom is a serene retreat, complete with an ensuite bathroom featuring a separate shower and garden tub, as well as two walk-in closets for storage. Throughout the home, ceiling fans keep the air circulating, while a gas fireplace adds a touch of warmth and charm to chilly evenings. Outdoor living is a breeze with a screened-in lanai and a wood deck with added ramp, perfect for soaking up the Florida sunshine. The fenced-in yard, adorned with mature trees, provides a tranquil backdrop for relaxation or play. As an added bonus, this corner lot offers extra privacy and curb appeal. Convenience is key in this location, with proximity to the bay for water enthusiasts and easy access to local amenities such as Innerarity Point Park which offers a playground, dock, picnic tables and GEORGOUS views of the Bay!! A short drive away, you'll find the Publix Super Market for all your grocery needs, and for a taste of local flavor, Hub Stacy's At The Point is nearby, serving up delicious cuisine. Additional features include a termite bond, gutters, and front and side irrigation.
Source: PENSACOLA #655296
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: Public records
All values shown are estimated costs / mo.
Source: Public records
Source: PENSACOLA #655296
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 of Equal Opportunity Act.