Properties / 6022 E SOTOL Drive
FHA ASSUMABLERate: 7.06%

6022 E SOTOL Drive

$299,000
Florence, AZ 85132
5 beds3 baths2,230 sqftSingle Family
The assumable advantage
7.06%
FHA assumed rate
$48,916 interest already paid off
Estimated Loan Balance$319,685
Cash to close$0
Est. Monthly PITI$2,581
Initial Loan Amount$323,211
Time on site50 days
Remaining Term27 years, 11 months
Seller's equity (what you pay)
$0
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

Move-in ready and beautifully maintained! Freshly painted exterior adds to the home's great curb appeal. Inside, you'll find a spacious floor plan featuring a huge loft and generously sized bedrooms, offering comfort and flexibility for any lifestyle. A large downstairs bedroom and full bath make the perfect setup for guests or multi-generational living. All appliances convey, including a washer and dryer that are only three years old. Step outside to a low-maintenance yard designed for easy care and more time to relax and enjoy your home

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 $0. 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 feet2,230
Property typeSingle Family
MLS #6907966
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)
$2,187/mo
Source est. payment (PITI)
$2,581/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

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

Confirm the current loan balance and equity requirement with an agent before estimating cash needed.