Properties / 12431 N 28TH Street
FHA ASSUMABLERate: 6.26%

12431 N 28TH Street

$489,000
Phoenix, AZ 85032
3 beds2 baths1,242 sqftSingle Family
The assumable advantage
6.26%
FHA assumed rate
$88,472 interest already paid off
Estimated Loan Balance$406,422
Cash to close$84,033
Est. Monthly PITI$3,055
Initial Loan Amount$422,211
Time on site50 days
Remaining Term26 years, 8 months
Seller's equity (what you pay)
$82,578
Cash or secondary financing
Monthly savings
$269
Versus today's market rate
Est. savings per year
$3K
Versus today's market rate

About this home

For sale is a charming single-story residence 3 Bedrooms 2 Bathrooms, that sits on a nice sized lot with a spacious 2 car Garage that gave been converted into 2 rooms but seller will convert back to the spacious 2 Car garage. Enter to discover the welcoming living room with handsome wood-look TILE floors thoughout the Home! The kitchen offers ample cabinetry, Quartz counters, and charming light fixtures. Open floor plan. Home features a well-sized Master bedroom with a sizable closet ! This home sure a cozy, Buautiful Home! No HOA and spacious backyard with RV gate that leads into the alleyway for easy access. Home also has solar panels!!!

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 $82,578. 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 feet1,242
Property typeSingle Family
MLS #7038267
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)
$2,615/mo
Source est. payment (PITI)
$3,055/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$82,578

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

$0$82,578
Additional funds needed$0

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