Properties / 2524 S EL PARADISO Drive
FHA ASSUMABLERate: 6.78%

2524 S EL PARADISO Drive

$386,000
Mesa, AZ 85202
3 beds3 baths1,897 sqftSingle Family
The assumable advantage
6.78%
FHA assumed rate
$40,702 interest already paid off
Estimated Loan Balance$357,373
Cash to close$28,971
Est. Monthly PITI$2,766
Initial Loan Amount$363,247
Time on site34 days
Remaining Term28 years, 4 months
Seller's equity (what you pay)
$28,627
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

Stunning lakefront townhome in gated Lake Park Villas. 3-bed/3-bath split-bedroom design with en-suite master. Recent comprehensive renovations: new kitchen with custom cabinetry, quartz counters & stainless appliances; remodeled bathrooms with tile showers & quartz vanities; new windows, doors, paint, baseboards, recessed lighting & ceiling fans throughout. Waterfront views from rear patio & balcony overlooking community lake. Excellent storage with walk-in closets, laundry room & garage. 1-car garage plus 2 front parking spaces. Over 1,897 sqft. Gated community with pool, spa, golf course & clubhouse. Short-term rentals allowed. Perfect primary residence or investment property.

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 $28,627. 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
Bathrooms3
Square feet1,897
Property typeSingle Family
MLS #7064319
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)
$2,368/mo
Source est. payment (PITI)
$2,766/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$28,627

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

$0$28,627
Additional funds needed$0

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