Properties / 2344 W MITCHELL Drive
FHA ASSUMABLERate: 3.75%

2344 W MITCHELL Drive

$429,900
Phoenix, AZ 85015
4 beds3 baths1,860 sqftSingle Family
The assumable advantage
3.75%
FHA assumed rate
$73,378 interest already paid off
Estimated Loan Balance$252,898
Cash to close$178,715
Est. Monthly PITI$1,891
Initial Loan Amount$293,584
Time on site50 days
Remaining Term22 years, 11 months
Seller's equity (what you pay)
$177,002
Cash or secondary financing
Monthly savings
$1,163
Versus today's market rate
Est. savings per year
$14K
Versus today's market rate

About this home

Mid Century Charm. Modern Interior. Just reduced to $429,900. Solid brick Mid-Century Ranch, priced to move. Located in the heart of Central Phoenix with easy freeway access to I-10 and I-17. Dark wood-look tile floors run through all the right places. Features a renovated kitchen with white shaker cabinets, granite counters, stainless appliances, gas range, eat-in space, and a separate dining area. Two en suite primary bedrooms, two additional bedrooms, and a den. Built for multi-generational living. One primary suite has its own exterior door and dedicated mini-split. The living room opens through a sliding glass door to a private backyard with a block wall, brick walkways, a circular grass feature, and mature landscaping. No HOA

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 $177,002. 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 feet1,860
Property typeSingle Family
MLS #7034609
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)
$1,372/mo
Source est. payment (PITI)
$1,891/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$177,002

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

$0$177,002
Additional funds needed$0

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