Properties / 1008 E Citrus Way
FHA ASSUMABLERate: 2.98%

1008 E Citrus Way

$1,165,000
Phoenix, AZ 85014
5 beds3 baths2,678 sqftSingle Family
The assumable advantage
2.98%
FHA assumed rate
$53,643 interest already paid off
Estimated Loan Balance$335,754
Cash to close$831,474
Est. Monthly PITI$2,381
Initial Loan Amount$374,440
Time on site50 days
Remaining Term25 years
Seller's equity (what you pay)
$829,246
Cash or secondary financing
Monthly savings
$5,281
Versus today's market rate
Est. savings per year
$63K
Versus today's market rate

About this home

Rare opportunity in the heart of North Central Phoenix! option to covert to Duplex. This versatile property offers exceptional flexibility with a detached guest house and separate living spaces, creating potential for duplex-style living, multigenerational occupancy, or income-producing opportunities. Buyers are encouraged to explore the possibilities this unique layout provides. The home has been thoughtfully updated and features modern finishes, an open and functional floor plan, updated kitchens and baths, and abundant natural light throughout. The spacious lot offers ample parking, RV access, and multiple outdoor entertaining areas. A standout feature is the fully owned solar systems--paid off at closing--providing substantial long-term energy savings with no solar lease or loan payments. Additional upgrades contribute to the home's efficiency, comfort, and move-in-ready appeal. Ideally located in a sought-after North Central Phoenix neighborhood close to shopping, dining, schools, and freeway access. Whether you're seeking a primary residence, multigenerational setup, or property with income potential, this one offers endless possibilities.

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 $829,246. 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

Bedrooms5
Bathrooms3
Square feet2,678
Property typeSingle Family
MLS #7040634
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)
$1,589/mo
Source est. payment (PITI)
$2,381/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$829,246

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

$0$829,246
Additional funds needed$0

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