Properties / 5802 N 61ST Drive
FHA ASSUMABLERate: 6.82%

5802 N 61ST Drive

$379,000
Glendale, AZ 85301
4 beds2 baths1,561 sqftSingle Family
The assumable advantage
6.82%
FHA assumed rate
$61,046 interest already paid off
Estimated Loan Balance$342,195
Cash to close$37,155
Est. Monthly PITI$2,671
Initial Loan Amount$351,220
Time on site44 days
Remaining Term27 years, 6 months
Seller's equity (what you pay)
$36,805
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

Sparkling pool and built-in BBQ are ideal for summertime outdoor entertainment and cookouts. The Beautiful new Gourmet Kitchen has Maple Cabinets, Granite Countertops, Glass Tile backsplash, Stainless Steel Appliances and a tile floor. The Master Bathroom has been very tastefully updated with new shower glass for a modern look. New Luxury vinyl wood plank has been laid through out the rest of the home, making it an easy to clean, scratch-resistant floor. Access the slab parking and the back yard through the RV gate to the side, which makes additional vehicle storage easy!!

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 $36,805. 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
Bathrooms2
Square feet1,561
Property typeSingle Family
MLS #7059745
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)
$2,299/mo
Source est. payment (PITI)
$2,671/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$36,805

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

$0$36,805
Additional funds needed$0

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