Properties / 56783 W Papago Road
FHA ASSUMABLERate: 6.49%

56783 W Papago Road

$325,000
Maricopa, AZ 85139
4 beds2 baths1,861 sqftSingle Family
The assumable advantage
6.49%
FHA assumed rate
$39,394 interest already paid off
Estimated Loan Balance$313,575
Cash to close$11,749
Est. Monthly PITI$2,327
Initial Loan Amount$320,003
Time on site8 days
Remaining Term28 years, 1 month
Seller's equity (what you pay)
$11,425
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

Just under 2 acre fenced lot features a very well designed manufactured home. The home is 4 bedroom with spacious rooms. 2 bathrooms with Master ensuite. Kitchen has upgraded stainless appliances, kitchen island, store counter tops. Nice size living area which looks into the kitchen. Home is priced below original new price. Lot has mountain views and could be used as a horse property.

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 $11,425. 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 feet1,861
Property typeSingle Family
MLS #7074209
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)
$2,025/mo
Source est. payment (PITI)
$2,327/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$11,425

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

$0$11,425
Additional funds needed$0

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