Properties / 7903 E COVINA Street
FHA ASSUMABLERate: 7.34%

7903 E COVINA Street

$430,000
Mesa, AZ 85207
3 beds2 baths1,428 sqftSingle Family
The assumable advantage
7.34%
FHA assumed rate
$165,648 interest already paid off
Estimated Loan Balance$12,461
Cash to close$418,237
Est. Monthly PITI$1,121
Initial Loan Amount$112,456
Time on site8 days
Remaining Term1 year, 3 months
Seller's equity (what you pay)
$417,539
Cash or secondary financing
Monthly savings
$1,664
Versus today's market rate
Est. savings per year
$20K
Versus today's market rate

About this home

This recently updated single-level home offers three bedrooms, two bathrooms and a two-car garage with NO HOA. The spacious floor plan features a large family room, a dining area in the kitchen, and a convenient walk-in pantry. The kitchen has been thoughtfully upgraded with DEKTON countertops, soft-close drawers and plenty of storage. The extended laundry room provides additional space, and washer and dryer are included. Beautiful wood-look flooring extends throughout the home, creating a warm and cohesive feel. The large primary bedroom features an en-suite bathroom with dual sinks, a tub/shower combination, and a large walk-in closet. Step outside to the generously sized backyard, offering plenty of room to add a swimming pool and create your own private outdoor retreat. Conveniently located near the 202 and 60 freeways, this home provides easy access to shopping, dining, entertainment and surrounding areas.

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 $417,539. 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 feet1,428
Property typeSingle Family
MLS #7074898
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)
$872/mo
Source est. payment (PITI)
$1,121/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$417,539

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

$0$417,539
Additional funds needed$0

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