Properties / 3 N3122
FHA ASSUMABLERate: 3.8%

3 N3122

$298,000
Vernon, AZ 85940
2 beds2 baths1,088 sqftSingle Family
The assumable advantage
3.8%
FHA assumed rate
$25,510 interest already paid off
Estimated Loan Balance$87,553
Cash to close$210,644
Est. Monthly PITI$740
Initial Loan Amount$101,750
Time on site24 days
Remaining Term23 years
Seller's equity (what you pay)
$210,447
Cash or secondary financing
Monthly savings
$1,281
Versus today's market rate
Est. savings per year
$15K
Versus today's market rate

About this home

REDUCED!Beautiful 1.73approx. acres with a 2 bedroom/2 bath 2020 home to enjoy year-round or seasonally. The 2 master suites allow for a flexible living situation with plenty of room to spread out or have a quiet dinner at home. Wood vinyl flooring gives natural tones throughout the home for elegance and easy clean up. The amazing front yard garden with lush green grass, happy plants and concrete patio to expand for large gatherings. The brand-new back porch to soak up the sun and fresh air while enjoying the soft sounds of the stone water feature. Raised garden beds to give anyone a green thumb and fully fenced for the kiddos or your furry family members to keep them safe. Maintained roads with an easy drive for shopping, dining and all the activities of the town. Shows pride of ownership

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 $210,447. 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

Bedrooms2
Bathrooms2
Square feet1,088
Property typeSingle Family
MLS #7068253
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)
$476/mo
Source est. payment (PITI)
$740/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$210,447

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

$0$210,447
Additional funds needed$0

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