Properties / 5350 E DEER VALLEY Drive
FHA ASSUMABLERate: 2.8%

5350 E DEER VALLEY Drive

$397,000
Phoenix, AZ 85054
2 beds2 baths1,246 sqftSingle Family
The assumable advantage
2.8%
FHA assumed rate
$46,746 interest already paid off
Estimated Loan Balance$270,205
Cash to close$126,795
Est. Monthly PITI$1,880
Initial Loan Amount$310,084
Time on site7 days
Remaining Term24 years, 4 months
Seller's equity (what you pay)
$126,795
Cash or secondary financing
Monthly savings
$1,064
Versus today's market rate
Est. savings per year
$13K
Versus today's market rate

About this home

Luxury resort-style living awaits in Toscana at Desert Ridge! This recently updated top-floor unit features plantation shutters, new appliances, an updated primary bathroom and shower, newer flooring, and fresh paint. Enjoy a premier location just steps from High Street, the new Sprouts store and headquarters, JW Marriott, Desert Ridge Marketplace, upscale shopping, dining, entertainment, and nearby hiking trails. Inside, you'll find 9-foot ceilings, granite countertops, spacious walk-in closets, and a private balcony with a lovely pool view. TWO SIDE-BY-SIDE underground parking spaces add exceptional convenience and security. Toscana offers resort-style amenities including 3 pools, spas, fitness centers and beautifully maintained grounds. This is Desert Ridge living at it's finest.

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 $126,795. 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 feet1,246
Property typeSingle Family
MLS #7076176
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)
$1,277/mo
Source est. payment (PITI)
$1,880/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$126,795

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

$0$126,795
Additional funds needed$0

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