Properties / 18040 W LOUISE Drive
FHA ASSUMABLERate: 4.06%

18040 W LOUISE Drive

$499,900
Surprise, AZ 85387
4 beds3 baths3,020 sqftSingle Family
The assumable advantage
4.06%
FHA assumed rate
$81,219 interest already paid off
Estimated Loan Balance$252,368
Cash to close$248,643
Est. Monthly PITI$1,966
Initial Loan Amount$292,845
Time on site50 days
Remaining Term22 years, 9 months
Seller's equity (what you pay)
$247,532
Cash or secondary financing
Monthly savings
$1,530
Versus today's market rate
Est. savings per year
$18K
Versus today's market rate

About this home

Become the proud owner of this delightful 5-bedroom residence in North Copper Canyon! You'll love the spacious great room with high ceilings, a soothing palette, classic plantation shutters, and attractive wood-look flooring. The spotless kitchen comes with quartz counters, ample wood cabinetry with crown moulding, pendant/recessed lighting, a tile backsplash, sleek SS appliances, a pantry, and an island with a breakfast bar. You'll also find a den ideal for an office or study. Upstairs, the sizeable loft provides a versatile space for work or relaxation. The tranquil primary bedroom showcases soft carpeting, an en suite with dual sinks, and a convenient walk-in closet. Spend peaceful afternoons in the backyard, complete with a covered patio and lovely gazebo. Make this gem yours now!

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 $247,532. 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
Bathrooms3
Square feet3,020
Property typeSingle Family
MLS #7049088
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)
$1,418/mo
Source est. payment (PITI)
$1,966/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$247,532

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

$0$247,532
Additional funds needed$0

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