Properties / 7373 N 123RD Drive
FHA ASSUMABLERate: 2.87%

7373 N 123RD Drive

$475,000
Glendale, AZ 85307
4 beds3 baths2,031 sqftSingle Family
The assumable advantage
2.87%
FHA assumed rate
$46,953 interest already paid off
Estimated Loan Balance$254,734
Cash to close$222,073
Est. Monthly PITI$1,707
Initial Loan Amount$291,904
Time on site50 days
Remaining Term24 years, 1 month
Seller's equity (what you pay)
$220,266
Cash or secondary financing
Monthly savings
$1,579
Versus today's market rate
Est. savings per year
$19K
Versus today's market rate

About this home

This beautiful home features a 2-car garage and RV gate! Flowing open floor plan filled with natural light, tile flooring, neutral paint, and sliding glass doors that seamlessly connect to the back patio, ideal for indoor-outdoor living. Welcoming kitchen offers recessed/pendant lighting, a walk-in pantry, ample cabinetry painted to compliment the granite counters. Gas range and a prep island with a breakfast bar. Main bedroom is complete with a walk-in closet and Dual Sinks. Versatile bonus room adds flexibility and can easily serve as an office, playroom, or additional lounge zone. Need more room, the 4th Bedroom also has it's own private Bathroom! Backyard includes a covered patio where you can enjoy quiet mornings or relaxing evenings. There is also a 10x10 Slab for future spa!

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 $220,266. 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 feet2,031
Property typeSingle Family
MLS #7037694
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)
$1,222/mo
Source est. payment (PITI)
$1,707/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$220,266

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

$0$220,266
Additional funds needed$0

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