Properties / 7129 W TORONTO Way
FHA ASSUMABLERate: 3.47%

7129 W TORONTO Way

$399,990
Phoenix, AZ 85043
3 beds2 baths1,727 sqftSingle Family
The assumable advantage
3.47%
FHA assumed rate
$52,142 interest already paid off
Estimated Loan Balance$217,748
Cash to close$183,224
Est. Monthly PITI$1,559
Initial Loan Amount$250,381
Time on site43 days
Remaining Term23 years, 7 months
Seller's equity (what you pay)
$182,242
Cash or secondary financing
Monthly savings
$1,231
Versus today's market rate
Est. savings per year
$15K
Versus today's market rate

About this home

Beautifully updated single-level home on a desirable corner lot! This move-in-ready home features 3 bedrooms plus a versatile bonus room that can be used as a 4th bedroom or home office, 2 fully renovated bathrooms, and a split floor plan. Enjoy tile flooring throughout, a bright new kitchen with quartz countertops, and modern finishes. The home also offers a newer A/C system (only a few years old) and numerous electrical upgrades throughout. Relax or entertain in the spacious backyard featuring a covered patio, BBQ area, and mature landscaping. A wonderful combination of comfort, style, and functionality!

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 $182,242. 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 feet1,727
Property typeSingle Family
MLS #7060237
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
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
Call

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)
$1,128/mo
Source est. payment (PITI)
$1,559/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$182,242

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

$0$182,242
Additional funds needed$0

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