Properties / 1342 W EMERALD Avenue
FHA ASSUMABLERate: 3.02%

1342 W EMERALD Avenue

$239,900
Mesa, AZ 85202
2 beds2 baths1,038 sqftSingle Family
The assumable advantage
3.02%
FHA assumed rate
$31,626 interest already paid off
Estimated Loan Balance$163,306
Cash to close$77,730
Est. Monthly PITI$1,109
Initial Loan Amount$186,558
Time on site50 days
Remaining Term24 years, 1 month
Seller's equity (what you pay)
$76,594
Cash or secondary financing
Monthly savings
$619
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

GREAT MESA LOCATION AND LOWEST PRICE IN COMMUNITY! close to Mesa Community College, ASU, airport, shopping, restaurants, freeways and more! Enjoy owning this inviting two-story townhome, 2 bedroom 1.5 bath with over 1000 sq ft! Vinyl flooring throughout and NEWER APPLIANCES all included in sale! 2 good sized bedrooms upstairs, one with a built in desk, that both share a full bath. A half bath down stairs for convenience. A good sized patio with artificial turf and a large laundry room with great storage!! Community pool for the hot summer days. This townhouse is priced to sell and a perfect starter home or investment property!! Come see this property before its gone!!

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 $76,594. 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

Bedrooms2
Bathrooms2
Square feet1,038
Property typeSingle Family
MLS #7037927
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)
$796/mo
Source est. payment (PITI)
$1,109/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$76,594

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

$0$76,594
Additional funds needed$0

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