Properties / 40010 W RIO LOBO Drive
FHA ASSUMABLERate: 5.78%

40010 W RIO LOBO Drive

$264,900
Maricopa, AZ 85138
3 beds2 baths1,339 sqftSingle Family
The assumable advantage
5.78%
FHA assumed rate
$72,859 interest already paid off
Estimated Loan Balance$300,323
Cash to close$0
Est. Monthly PITI$2,387
Initial Loan Amount$317,236
Time on site25 days
Remaining Term26 years
Seller's equity (what you pay)
$0
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

Get it while it's hot! Pun intended. 2022 build with spray foam insulation to keep those cooling bills low. Walk in to be greeted by an inviting open floor plan that really maximizes your square footage. The stunning kitchen boasts a large island, espresso cabinets, SS appliances, and granite countertops. This home is equipped with a water filtration unit that serves the whole home.

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 $0. 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 feet1,339
Property typeSingle Family
MLS #7067662
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)
$1,862/mo
Source est. payment (PITI)
$2,387/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

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

Confirm the current loan balance and equity requirement with an agent before estimating cash needed.