Properties / 2625 S 120TH Drive
FHA ASSUMABLERate: 2.99%

2625 S 120TH Drive

$415,000
Avondale, AZ 85323
3 beds2 baths1,924 sqftSingle Family
The assumable advantage
2.99%
FHA assumed rate
$42,512 interest already paid off
Estimated Loan Balance$220,107
Cash to close$194,893
Est. Monthly PITI$1,590
Initial Loan Amount$253,370
Time on site12 days
Remaining Term24 years, 1 month
Seller's equity (what you pay)
$194,893
Cash or secondary financing
Monthly savings
$1,378
Versus today's market rate
Est. savings per year
$17K
Versus today's market rate

About this home

Gorgeous Home has 3-Bedrooms, Plus a Front Bonus Room, 2-Bathrooms, and is located on a Premium 9,602 Sq. Ft. Cul-de-sac Lot with Mountain Views. Home has an Extended Length Driveway with Plenty of Room to Add a 10 ft. RV Gate and it Boarders the Greenbelt for Extra Privacy. Kitchen Features 42'' White Shaker Cabinets, Granite Counters, Gas Stove-Top, RO System, Center Island with Breakfast Bar, Stainless Steel Appliances, and Pantry. Upgrades include 9 ft+ Ceilings, Neutral Paint, and Wood Plank Tile Floors in all the Common Areas. The Primary Suite Measures 14'1''x16'5'' has an sliding door to the Backyard. Ensuite has Dual Sinks, Soaking Tub, Standup Shower, and W.I.C. Massive Backyard has a Covered Patio and both Side Yards are Wide. 1 Year Home Warranty Included. The Community Amenities Include Lush Greenbelts, Basketball Courts, Shaded Playgrounds, Golf, and Picnic Areas. Centrally Located Home is near Schools, Parks, Dining, Shopping, Entertainment, I-10, Loop 101, Tres Rios Wetlands, Hospitals, The BLVD 3.2mi, LA Dodgers/Chicago White Sox Spring Training 7.6mi, Westgate Entertainment District 11mi, Cardinal's Stadium 11mi, Future Mattel Adventure Park 11mi, Phoenix Raceway PIR 4.6mi, GCU 19mi, GCC 17mi, Phoenix College 18mi, EMCC 5.7mi, The Wigwam 7.1mi, and Luke Airforce Base 11mi.

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 $194,893. 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 feet1,924
Property typeSingle Family
MLS #7073258
CountyMaricopa County
Assumable loanFHA
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Free · No commitment · Typical reply in 15 min
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)
$1,069/mo
Source est. payment (PITI)
$1,590/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$194,893

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

$0$194,893
Additional funds needed$0

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