Properties / 261 N 101ST Way
FHA ASSUMABLERate: 8.16%

261 N 101ST Way

$365,000
Mesa, AZ 85207
3 beds2 baths1,591 sqftSingle Family
The assumable advantage
8.16%
FHA assumed rate
$125,700 interest already paid off
Estimated Loan Balance$1,648
Cash to close$362,810
Est. Monthly PITI$870
Initial Loan Amount$74,744
Time on site1 day
Remaining Term3 months
Seller's equity (what you pay)
$363,352
Cash or secondary financing
Monthly savings
$1,596
Versus today's market rate
Est. savings per year
$19K
Versus today's market rate

About this home

This east Mesa home sits in a quiet, no-HOA neighborhood. Solid-structure home with roof, HVAC, and windows all less than 10 years old -- big-ticket items done for you. Enjoy easy freeway access and a large backyard with mature fruit trees, perfect for AZ evenings. Enclosed back porch makes a bonus rec room (window A/C included), plus a flexible bonus room off the kitchen for a pantry, office, or storage. A home perfect for a buyer to add updates and make it their own!

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 $363,352. 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

Bedrooms3
Bathrooms2
Square feet1,591
Property typeSingle Family
MLS #7076890
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)
$557/mo
Source est. payment (PITI)
$870/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$363,352

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

$0$363,352
Additional funds needed$0

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