Properties / 2521 W Montebello Avenue
FHA ASSUMABLERate: 3.09%

2521 W Montebello Avenue

$329,900
Phoenix, AZ 85017
2 beds1 baths934 sqftSingle Family
The assumable advantage
3.09%
FHA assumed rate
$42,459 interest already paid off
Estimated Loan Balance$274,629
Cash to close$55,862
Est. Monthly PITI$1,721
Initial Loan Amount$304,385
Time on site20 days
Remaining Term25 years, 4 months
Seller's equity (what you pay)
$55,271
Cash or secondary financing
Monthly savings
$642
Versus today's market rate
Est. savings per year
$8K
Versus today's market rate

About this home

A great opportunity to make homeownership your next step! This charming and centrally located Phoenix home offers a comfortable, manageable space with attractive updates already in place, including wood-look tile flooring, neutral interior tones, and an updated kitchen featuring quartz countertops, tile backsplash, contemporary cabinetry, and stainless steel appliances. Enjoy the added benefit of solar panels, helping reduce monthly electricity costs and making energy expenses more manageable. Conveniently located just minutes from the I-17 with easy access to the I-10, shopping, dining, and everyday necessities. Walking distance to the nearby elementary school, adding extra convenience for households with young children. A great fit for those transitioning from renting to owning,

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 $55,271. 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
Bathrooms1
Square feet934
Property typeSingle Family
MLS #7070115
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)
$1,304/mo
Source est. payment (PITI)
$1,721/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$55,271

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

$0$55,271
Additional funds needed$0

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