Properties / 16824 W EL Caminito Drive
FHA ASSUMABLERate: 7.19%

16824 W EL Caminito Drive

$399,990
Waddell, AZ 85355
3 beds2 baths1,400 sqftSingle Family
The assumable advantage
7.19%
FHA assumed rate
$80,540 interest already paid off
Estimated Loan Balance$368,117
Cash to close$32,238
Est. Monthly PITI$2,996
Initial Loan Amount$378,998
Time on site39 days
Remaining Term27 years, 1 month
Seller's equity (what you pay)
$31,873
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 2024-built single-level home featuring 3 bedrooms and 2 bathrooms in the desirable Northern Crossing community. The open-concept floor plan offers a spacious great room and a well-appointed kitchen with quartz countertops, a large center island with seating, and ample cabinet space. The split-bedroom layout provides added privacy for the primary suite. Enjoy Arizona outdoor living with a covered patio, extended paver patio, artificial turf, and a private putting green. Refrigerator, washer, and dryer convey. Conveniently located near Loop 303, shopping, dining, parks, schools, and everyday amenities.

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 $31,873. 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 feet1,400
Property typeSingle Family
MLS #7061648
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)
$2,575/mo
Source est. payment (PITI)
$2,996/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$31,873

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

$0$31,873
Additional funds needed$0

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