Charming two story in oh-so-popular Ridgefield Estates of Manhattan! Take a break with morning coffee or evening libation on the pretty front porch. Step inside to discover a light-filled two story foyer, highlighted by open staircase w/upgraded metal railings and fun decor ledge for seasonal displays. You'll appreciate the spacious flex room, that's currently being used as an additional dining area. Wonderful open floor plan across the entire back of the home includes a roomy kitchen w/pantry open to sunny dinette area and family room: main level has new LVP installed in 2025. Handy 1st floor powder room is fully updated. Convenient and sizable laundry room with storage and countertop leads to 2 car attached garage (new upgraded overhead door in 2024). Head upstairs to discover the big master suite, with private full bath and bonus sitting room. Two additional bedrooms and a roomy loft that you could convert to a 4th bedroom offer plenty of space, and share another full bath (updated in 2026). The sports fans in the family will love the full finished basement, complete with built-in bar and areas for game day viewing and party time! Basement is complete with a 3/4 bath and storage areas. Speaking of party time, this will be the go-to home for summertime enjoyment. Plenty of entertainment zones outside, with a 30x16 concrete patio including a pergola, oversized 26x12 deck, above ground pool and a 12x10 storage shed...all in a privacy fenced yard w/gate for easy access to the junior high across the road. Other items to note: kitchen appliances and sump pump new in 2026. Furnace, AC, Ecobee smart thermostat, water heater and additional insulation in 2020. Manhattan Elementary Schools and Lincoln-Way West High School Ridgefield Estates is an established custom home neighborhood that has no HOA fees and is NOT in an SSA, making it an affordable choice in a great location!
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.
