Properties / 1089 W ELM Avenue
FHA ASSUMABLERate: 6.85%

1089 W ELM Avenue

$245,000
Coolidge, AZ 85128
3 beds2 baths1,755 sqftSingle Family
The assumable advantage
6.85%
FHA assumed rate
$34,195 interest already paid off
Estimated Loan Balance$350,163
Cash to close$0
Est. Monthly PITI$2,777
Initial Loan Amount$354,841
Time on site11 days
Remaining Term28 years, 7 months
Seller's equity (what you pay)
$0
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

Opportunity awaits with this 3-bedroom, 2-bath home offering 1,754 square feet of living space on a large corner lot in Coolidge. The desirable split floor plan features a separate dining room along with an open concept kitchen and living area, creating a functional layout for everyday living and entertaining. The kitchen is equipped with stainless steel appliances, while the spacious backyard features a private pool and offers a blank canvas for creating your ideal outdoor living space. With some TLC, this home offers a great opportunity for a buyer to add their own personal touches and make it their own. Property is being offered as a short sale and is subject to lender approval.

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 $0. 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 feet1,755
Property typeSingle Family
MLS #7073388
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)
$2,329/mo
Source est. payment (PITI)
$2,777/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

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

Confirm the current loan balance and equity requirement with an agent before estimating cash needed.