Properties / 10602 W Papago Street
FHA ASSUMABLERate: 6.71%

10602 W Papago Street

$375,000
Tolleson, AZ 85353
4 beds3 baths2,228 sqftSingle Family
The assumable advantage
6.71%
FHA assumed rate
$1,779 interest already paid off
Estimated Loan Balance$8,668
Cash to close$366,343
Est. Monthly PITI$373
Initial Loan Amount$9,009
Time on site10 days
Remaining Term25 years
Seller's equity (what you pay)
$366,332
Cash or secondary financing
Monthly savings
$2,151
Versus today's market rate
Est. savings per year
$26K
Versus today's market rate

About this home

Opportunity knocks! This spacious 4-bedroom, 2.5-bath home sits on an oversized lot and offers tremendous potential for the right buyer. Featuring a functional floor plan, generous room sizes, an open kitchen, and a massive backyard, this property is ready for your personal touch. Please note that flooring in portions of the home are incomplete, and the property is being sold strictly AS-IS. Seller will make no repairs and is looking for a quick sale. Whether you're an investor, flipper, or buyer looking to build instant equity, this home presents an excellent opportunity to customize and add value. The expansive backyard provides ample space for entertaining, RV storage, a pool, workshop, or future landscaping projects.

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 $366,332. 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
Bathrooms3
Square feet2,228
Property typeSingle Family
MLS #7037628
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)
$60/mo
Source est. payment (PITI)
$373/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$366,332

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

$0$366,332
Additional funds needed$0

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