Properties / 15821 N 35TH Lane
FHA ASSUMABLERate: 3.71%

15821 N 35TH Lane

$389,900
Phoenix, AZ 85053
3 beds3 baths1,522 sqftSingle Family
The assumable advantage
3.71%
FHA assumed rate
$55,685 interest already paid off
Estimated Loan Balance$112,414
Cash to close$278,853
Est. Monthly PITI$1,064
Initial Loan Amount$149,246
Time on site50 days
Remaining Term18 years, 7 months
Seller's equity (what you pay)
$277,486
Cash or secondary financing
Monthly savings
$1,601
Versus today's market rate
Est. savings per year
$19K
Versus today's market rate

About this home

Now offered at $395,000 with approximately $55,000 invested in improvements! Newly staged with fresh professional photos, this move-in-ready North Phoenix home offers buyers the opportunity to enjoy extensive updates without the time, expense, and hassle of taking on major renovations after closing. This updated 3-bedroom, 2.5-bath two-story home features new luxury vinyl plank flooring throughout, fresh interior paint, exterior paint completed in 2023, and a beautifully remodeled kitchen with brand-new cabinetry, quartz countertops, and new appliances. The functional floor plan includes a bright great room, dining area, eat-in kitchen space, 2-car garage, and a low-maintenance backyard with turf installed in 2023. The bathrooms have also been refreshed with updated sinks, toilets, showers, and bathtub, creating a clean, modern feel throughout the home. With approximately $55,000 invested in improvements, this home offers exceptional value for buyers looking for an updated property under $400,000 in North Phoenix. Convenient access to I-17 and Loop 101 puts shopping, dining, entertainment, Norterra, Happy Valley Towne Center, and Desert Ridge within easy reach. Updated, staged, and priced at $395,000--come see the value for yourself. 1% Flex Credit available through preferred lender for qualified buyers, to be applied toward closing costs or rate buydown.

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 $277,486. 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
Bathrooms3
Square feet1,522
Property typeSingle Family
MLS #7026839
CountyMaricopa County
Assumable loanFHA
Tour this home
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Prefer virtual tour?
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)
$698/mo
Source est. payment (PITI)
$1,064/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$277,486

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

$0$277,486
Additional funds needed$0

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