Properties / 5238 N 371ST Drive
FHA ASSUMABLERate: 6.36%

5238 N 371ST Drive

$249,000
Tonopah, AZ 85354
4 beds2 baths1,802 sqftSingle Family
The assumable advantage
6.36%
FHA assumed rate
$210,118 interest already paid off
Estimated Loan Balance$113,396
Cash to close$134,952
Est. Monthly PITI$1,587
Initial Loan Amount$201,832
Time on site0 days
Remaining Term10 years, 3 months
Seller's equity (what you pay)
$135,604
Cash or secondary financing
Monthly savings
$211
Versus today's market rate
Est. savings per year
$3K
Versus today's market rate

About this home

Bring your horses, RVs and toys and enjoy wide-open Arizona living! Situated on 3 flat, usable acres with NO HOA, this 4-bedroom, 2-bath, 1,802 sq. ft. manufactured home offers room to spread out inside and out. The spacious floor plan features a living room plus separate family room and a large kitchen with granite countertops and plenty of cabinet and counter space. The home has just been professionally cleaned and is ready for its new owners. Paint and carpet are ready for updating, giving you the opportunity to make it your own. Horses are allowed and the open acreage offers plenty of possibilities for corrals, RV parking, trailers, toys and more. Storage trailer included. Enjoy privacy, open space and room to create the property you've been looking for!

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 $135,604. 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

Bedrooms4
Bathrooms2
Square feet1,802
Property typeSingle Family
MLS #7079454
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)
$1,257/mo
Source est. payment (PITI)
$1,587/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$135,604

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

$0$135,604
Additional funds needed$0

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