Properties / 3238 E RIDGEWOOD Lane
FHA ASSUMABLERate: 4.15%

3238 E RIDGEWOOD Lane

$515,000
Gilbert, AZ 85298
4 beds3 baths2,178 sqftSingle Family
The assumable advantage
4.15%
FHA assumed rate
$93,295 interest already paid off
Estimated Loan Balance$215,133
Cash to close$304,620
Est. Monthly PITI$1,790
Initial Loan Amount$260,200
Time on site50 days
Remaining Term20 years, 7 months
Seller's equity (what you pay)
$299,867
Cash or secondary financing
Monthly savings
$1,740
Versus today's market rate
Est. savings per year
$21K
Versus today's market rate

About this home

Fall in love with this gorgeous 2-story gem featuring a 2-car garage and all the right touches! Entertain in the inviting living room wired for surround sound—movie nights just got an upgrade! Enjoy tile floors, a neutral palette, and a kitchen that shines with wood cabinetry, SS appliances, ample counters, and a center island with a breakfast bar perfect for morning chats. Loft is ready for your creativity and can be utilized as a media room, home gym, or cozy reading nook, your choice! Main bedroom promises relaxation with dual sinks, a soaking tub, and a walk-in closet. Outside, unwind in the cozy backyard under the covered patio while sipping your favorite drink. And with community perks like a pool, fitness center, golf course, and more, you'll never want to leave! Don't miss it!

How assumption works for this home

Can I assume this FHA loan?

Yes, as long as you meet the lender's credit (620+) and DTI requirements. FHA assumptions require you to use the home as your primary residence.

How much cash do I actually need?

You need to cover the seller's equity of $299,867. If you don't have that in cash, we can help structure secondary financing to cover the gap.

Can investors assume this one?

No — FHA loans require owner-occupancy. If you're an investor, ask us about our VA inventory.

How long does this take?

Typically 45 days. The lender underwriting is 2–3 weeks, and the rest is standard closing.

Property details

Bedrooms4
Bathrooms3
Square feet2,178
Property typeSingle Family
MLS #6942644
CountyMaricopa County
Assumable loanFHA
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Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
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Payment & cash calculator

Cash covers the gap between the price and the existing loan balance. Changing this amount does not change the existing mortgage payment.

Est. mortgage payment (P&I)
$1,297/mo
Source est. payment (PITI)
$1,790/mo

P&I is principal and interest. PITI also includes estimated taxes and insurance. HOA fees and payments on any additional financing are separate.

Estimated equity gap$299,867

Asking price minus remaining loan balance. Closing costs are additional.

$0$299,867
Additional funds needed$0

The equity gap is covered. Closing costs and assumption fees still need to be confirmed.