Properties / 153 E MITCHELL Way
FHA ASSUMABLERate: 6.5%

153 E MITCHELL Way

$350,000
Tonto Basin, AZ 85553
3 beds2 baths1,920 sqftSingle Family
The assumable advantage
6.5%
FHA assumed rate
$5,048 interest already paid off
Estimated Loan Balance$310,384
Cash to close$39,333
Est. Monthly PITI$2,401
Initial Loan Amount$310,948
Time on site4 days
Remaining Term29 years, 10 months
Seller's equity (what you pay)
$39,616
Cash or secondary financing
Monthly savings
$99
Versus today's market rate
Est. savings per year
$1K
Versus today's market rate

About this home

Mountain Views, Room to Roam & Your Own Orchard in Tonto Basin! Welcome to your Tonto Basin retreat! This charming 3-bedroom, 2-bath home sits on a spacious .52-acre lot and offers gorgeous mountain views, plenty of room to enjoy the outdoors, and the relaxed lifestyle that makes this area so special. Inside, you'll find a comfortable floor plan with three bedrooms and two baths, providing plenty of space for family, guests, or a home office. Step outside and discover a true highlight of the property--a wonderful collection of mature fruit trees, including plum, pear, apricot, orange, blood orange, pomegranate, and peach. Imagine enjoying fresh fruit right from your own yard! The property also features a large two-car garage, offering generous space for vehicles, storage, recreational toys , or a workshop. With over half an acre, there's room to garden, entertain, or simply relax and take in the beautiful mountain surroundings. Located in the heart of Tonto Basin, this home is conveniently close to Roosevelt Lake, making it easy to enjoy boating, fishing, hiking, camping, and all the outdoor recreation the area has to offer. Whether you're looking for a full-time home, weekend getaway, or a place to escape the hustle and bustle, this property offers the space, scenery, and location to enjoy the best of Arizona's mountain country.

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 $39,616. 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 feet1,920
Property typeSingle Family
MLS #7076820
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)
$1,965/mo
Source est. payment (PITI)
$2,401/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$39,616

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

$0$39,616
Additional funds needed$0

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