Properties / 11018 E TESLA Avenue
FHA ASSUMABLERate: 6.69%

11018 E TESLA Avenue

$659,900
Mesa, AZ 85212
5 beds3 baths1,956 sqftSingle Family
The assumable advantage
6.69%
FHA assumed rate
$59,308 interest already paid off
Estimated Loan Balance$503,280
Cash to close$157,602
Est. Monthly PITI$3,877
Initial Loan Amount$511,198
Time on site50 days
Remaining Term28 years, 3 months
Seller's equity (what you pay)
$156,620
Cash or secondary financing
Monthly savings
$584
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

SPACIOUS, ELEGANT, AND BETTER THAN NEW! Built in 2022, this stunning 5-bed, 2.5-bath home offers 1956 sqft of beautifully designed living space on an expansive 10,583 sqft lot, combining modern style with exceptional outdoor living. Enjoy your own private retreat featuring a sparkling pool with a hot tub, built-in BBQ, low-maintenance artificial turf, and breathtaking mountain views--the perfect setting for relaxing or hosting unforgettable gatherings. Located in a desirable community with a clubhouse, fitness center, and more! With modern construction, premium outdoor features, and an oversized lot, this exceptional home offers the space, style, and lifestyle you've been searching for!

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 $156,620. 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

Bedrooms5
Bathrooms3
Square feet1,956
Property typeSingle Family
MLS #7051283
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)
$3,308/mo
Source est. payment (PITI)
$3,877/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$156,620

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

$0$156,620
Additional funds needed$0

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