Properties / 345 N MADISON Street
FHA ASSUMABLERate: 4.17%

345 N MADISON Street

$310,000
Wickenburg, AZ 85390
3 beds2 baths1,570 sqftSingle Family
The assumable advantage
4.17%
FHA assumed rate
$52,189 interest already paid off
Estimated Loan Balance$277,793
Cash to close$33,203
Est. Monthly PITI$1,883
Initial Loan Amount$300,162
Time on site43 days
Remaining Term25 years, 8 months
Seller's equity (what you pay)
$32,207
Cash or secondary financing
Monthly savings
$357
Versus today's market rate
Est. savings per year
$4K
Versus today's market rate

About this home

Great location within walking distance from downtown Wickenburg, Restaurants, Grocery Store, Schools and Park. 3bdrm 2bath open floorplan with bonus room (enclosed garage). Fenced backyard with storage shed. New A/C unit (2019), new paint and new flooring (2020)! This will make a great Starter Home or Investment Property. Home has been a rental last year owner, was getting $1,850 a month year lease.

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 $32,207. 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 feet1,570
Property typeSingle Family
MLS #7060200
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)
$1,471/mo
Source est. payment (PITI)
$1,883/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$32,207

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

$0$32,207
Additional funds needed$0

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