Properties / 1981 N LEWIS Place
FHA ASSUMABLERate: 3.02%

1981 N LEWIS Place

$340,000
Casa Grande, AZ 85122
4 beds2 baths1,667 sqftSingle Family
The assumable advantage
3.02%
FHA assumed rate
$38,431 interest already paid off
Estimated Loan Balance$198,901
Cash to close$142,936
Est. Monthly PITI$1,428
Initial Loan Amount$226,699
Time on site50 days
Remaining Term24 years, 1 month
Seller's equity (what you pay)
$141,099
Cash or secondary financing
Monthly savings
$1,036
Versus today's market rate
Est. savings per year
$12K
Versus today's market rate

About this home

Built in 2020, this newer single-level 4 bed, 2 bath home is move-in ready and easy to love! The open floor plan features a spacious great room, kitchen island, and seamless flow for everyday living or entertaining. Carpet in the bedrooms and ceiling fans throughout add comfort and value. Enjoy a low-maintenance backyard with a covered patio--perfect for relaxing without the upkeep. Ideal for first-time buyers, retirees, empty nesters, or winter visitors seeking simple, low-maintenance Arizona living. Just unpack and enjoy!

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 $141,099. 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

Bedrooms4
Bathrooms2
Square feet1,667
Property typeSingle Family
MLS #7023818
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)
$969/mo
Source est. payment (PITI)
$1,428/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$141,099

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

$0$141,099
Additional funds needed$0

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