Properties / 7497 S Martin Drive
FHA ASSUMABLERate: 3.55%

7497 S Martin Drive

$349,000
Mohave Valley, AZ 86440
3 beds2 baths1,406 sqftSingle Family
The assumable advantage
3.55%
FHA assumed rate
$5,468 interest already paid off
Estimated Loan Balance$33,303
Cash to close$315,697
Est. Monthly PITI$435
Initial Loan Amount$36,426
Time on site7 days
Remaining Term25 years, 8 months
Seller's equity (what you pay)
$315,697
Cash or secondary financing
Monthly savings
$1,893
Versus today's market rate
Est. savings per year
$23K
Versus today's market rate

About this home

Acreage & Endless Possibilities in Perry Acres! If you’ve been looking for room to spread out without giving up the comforts of home, this 3-bedroom, 2-bathroom property on just over an acre is one you won’t want to miss. Ideally positioned on a desirable corner lot in the Perry Acres community of Mohave Valley, this property offers the space, flexibility, and features that make acreage living so appealing. The home offers a functional split floor plan, a cozy fireplace, and a convenient indoor laundry room. Outside, the possibilities are wide open with plenty of room to enjoy your property your way. Parking and storage are exceptional, with a 2-car attached garage PLUS a separate 2-car detached garage — perfect for vehicles, recreational toys, a workshop, or additional storage. This property has city water PLUS a private well for agricultural water, giving you options for making the most of your land — come see the possibilities for yourself and schedule your private showing today!

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 $315,697. 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 feet1,406
Property typeSingle Family
MLS #041933
CountyMaricopa County
Assumable loanFHA
Tour this home
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Free · No commitment · Typical reply in 15 min
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)
$165/mo
Source est. payment (PITI)
$435/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$315,697

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

$0$315,697
Additional funds needed$0

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