Properties / 7318 W MIDWAY Avenue
FHA ASSUMABLERate: 3.61%

7318 W MIDWAY Avenue

$400,000
Glendale, AZ 85303
3 beds3 baths1,998 sqftSingle Family
The assumable advantage
3.61%
FHA assumed rate
$71,402 interest already paid off
Estimated Loan Balance$168,385
Cash to close$232,570
Est. Monthly PITI$1,500
Initial Loan Amount$216,015
Time on site50 days
Remaining Term19 years, 10 months
Seller's equity (what you pay)
$231,615
Cash or secondary financing
Monthly savings
$1,367
Versus today's market rate
Est. savings per year
$16K
Versus today's market rate

About this home

PRICE IMPROVEMENT! Don't miss this opportunity to own a well maintained home in a desirable gated Glendale community!Offering 2,020 sq ft of thoughtfully designed living space, this home features 3 bedrooms plus a versatile den/office/bonus room,2.5 bathrooms, & an upstairs loft.The open-concept floor plan creates an inviting space for everyday living.The spacious kitchen is the heart of the home, featuring a gas range, center island, breakfast bar, and plenty of workspace, all overlooking the living & dining areas. With its functional floor plan, flexible living spaces, and gated-community setting,this home offers a wonderful combination of comfort, convenience, and value--especially with this NEW PRICE! Upstairs, you'll find three additional bedrooms, including a spacious primary suite with a garden tub, separate shower, and oversized walk-in closet. The versatile loft provides even more space for a home office, media area, or relaxation. An upstairs laundry room adds everyday convenience.

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 $231,615. 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 feet1,998
Property typeSingle Family
MLS #7048489
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)
$992/mo
Source est. payment (PITI)
$1,500/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$231,615

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

$0$231,615
Additional funds needed$0

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