Properties / 7355 W HUGHES Drive
FHA ASSUMABLERate: 2.88%

7355 W HUGHES Drive

$377,000
Phoenix, AZ 85043
3 beds2 baths1,460 sqftSingle Family
The assumable advantage
2.88%
FHA assumed rate
$39,600 interest already paid off
Estimated Loan Balance$268,088
Cash to close$108,311
Est. Monthly PITI$1,766
Initial Loan Amount$300,162
Time on site0 days
Remaining Term25 years, 3 months
Seller's equity (what you pay)
$108,912
Cash or secondary financing
Monthly savings
$977
Versus today's market rate
Est. savings per year
$12K
Versus today's market rate

About this home

Welcome to this beautifully maintained 3 bedroom, 2 bath home built in 2020, ideally situated on a desirable corner lot. The interior has been freshly painted, creating a clean and inviting feel throughout. The thoughtfully designed backyard is ready for both relaxing and entertaining, featuring pavers, low-maintenance turf, and a flower bed for added charm. Enjoy the convenience of being close to shopping, dining, and everyday amenities while living in a newer home with a functional layout. Whether you're a first-time buyer, looking to downsize, or searching for a move-in-ready home, this property offers comfort, style, and convenience.

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 $108,912. 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 feet1,460
Property typeSingle Family
MLS #7078756
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)
$1,246/mo
Source est. payment (PITI)
$1,766/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$108,912

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

$0$108,912
Additional funds needed$0

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