Properties / 22238 N 88TH Avenue
FHA ASSUMABLERate: 2.98%

22238 N 88TH Avenue

$700,000
Peoria, AZ 85383
3 beds2 baths1,922 sqftSingle Family
The assumable advantage
2.98%
FHA assumed rate
$44,678 interest already paid off
Estimated Loan Balance$284,017
Cash to close$417,868
Est. Monthly PITI$1,873
Initial Loan Amount$316,742
Time on site47 days
Remaining Term25 years
Seller's equity (what you pay)
$415,983
Cash or secondary financing
Monthly savings
$2,784
Versus today's market rate
Est. savings per year
$33K
Versus today's market rate

About this home

Calling all investors, flippers, and buyers with vision! This 3 bed 2 bath home in North Peoria offers endless potential. Featuring a newer roof and solar for potential energy savings, the groundwork is already in place for your next project. Nestled in the coveted 85383 zip code with NO HOA, you'll enjoy the freedom to park your RV, boat, trailer, or other Arizona toys right on your property. Whether you're looking to renovate, invest, or create your dream home, this is an opportunity you won't want to miss! With a home built like this, non weight bearing walls for endless possibilities!

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 $415,983. 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 feet1,922
Property typeSingle Family
MLS #7041703
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)
$1,344/mo
Source est. payment (PITI)
$1,873/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$415,983

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

$0$415,983
Additional funds needed$0

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