Properties / 36805 W LEONESSA Avenue
FHA ASSUMABLERate: 2.98%

36805 W LEONESSA Avenue

$350,000
Maricopa, AZ 85138
4 beds2 baths2,291 sqftSingle Family
The assumable advantage
2.98%
FHA assumed rate
$38,774 interest already paid off
Estimated Loan Balance$242,156
Cash to close$109,458
Est. Monthly PITI$1,635
Initial Loan Amount$270,655
Time on site50 days
Remaining Term24 years, 11 months
Seller's equity (what you pay)
$107,844
Cash or secondary financing
Monthly savings
$916
Versus today's market rate
Est. savings per year
$11K
Versus today's market rate

About this home

Why wait for a new build, get a small lot & guess at the finished product? Gorgeous single level, 4 bed, 2 bath, almost 2,300 sq ft home w/ huge 10, 400 sq ft lot, in wonderful Sorrento. Sellers installed shutters, new flooring 2026, interior & exterior paint 2026, new appliances, faucets, light fixtures, A/C 2025, R/O & Water Softener 2024, hot water heater 2023. Large kitchen w/ cherry staggered cabinets w/ crown molding, stainless steel appliances, granite countertops, farm sink, and walk-in pantry. Primary bath dual sinks, separate shower & garden tub and walk-in closet! French doors lead to an expansive covered patio & backyard made for entertaining. Sorrento offers parks, picnic areas, splash pad, basketball & tennis courts. This will be one LUCKY buyer!!! Just pack and move-in!!!

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 $107,844. 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 feet2,291
Property typeSingle Family
MLS #7042347
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)
$1,148/mo
Source est. payment (PITI)
$1,635/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$107,844

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

$0$107,844
Additional funds needed$0

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