Properties / 408 W PONTIAC Drive
FHA ASSUMABLERate: 6.27%

408 W PONTIAC Drive

$224,900
Phoenix, AZ 85027
2 beds2 baths863 sqftSingle Family
The assumable advantage
6.27%
FHA assumed rate
$51,904 interest already paid off
Estimated Loan Balance$232,527
Cash to close$0
Est. Monthly PITI$1,789
Initial Loan Amount$241,544
Time on site50 days
Remaining Term26 years, 7 months
Seller's equity (what you pay)
$0
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

Move-in ready 2 bedroom, 2 bath split floor plan condo in the desirable La Crescenta community! This well-maintained home features two primary suites -- each generously sized with its own private bathroom, ideal for roommates, guests, or a work-from-home setup. Recent updates include new carpeting, new bathroom cabinetry, and a brand-new washer and dryer, giving the home a fresh, modern feel. The main living area is open and bright with abundant natural light throughout. Step outside to enjoy the sparkling community pool just steps from your door. Located in North Phoenix minutes from Loop 101, with easy access to shopping, dining, and major employment corridors.

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 $0. 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

Bedrooms2
Bathrooms2
Square feet863
Property typeSingle Family
MLS #7027293
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)
$1,499/mo
Source est. payment (PITI)
$1,789/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

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

Confirm the current loan balance and equity requirement with an agent before estimating cash needed.