Properties / 661 N JOSHUA TREE Lane
FHA ASSUMABLERate: 2.74%

661 N JOSHUA TREE Lane

$515,000
Gilbert, AZ 85234
4 beds2 baths1,489 sqftSingle Family
The assumable advantage
2.74%
FHA assumed rate
$48,206 interest already paid off
Estimated Loan Balance$307,223
Cash to close$212,048
Est. Monthly PITI$1,992
Initial Loan Amount$345,624
Time on site47 days
Remaining Term24 years, 7 months
Seller's equity (what you pay)
$207,777
Cash or secondary financing
Monthly savings
$1,605
Versus today's market rate
Est. savings per year
$19K
Versus today's market rate

About this home

Welcome home to this beautifully updated property featuring a pool, solar, and thoughtful upgrades throughout--designed for both comfort and efficiency. This well-maintained home offers a bright, functional layout with modern touches in all the right places, creating a space that feels both inviting and truly move-in ready. Enjoy Arizona living in the private backyard with a sparkling pool and refreshed cool decking--perfect for relaxing or entertaining. The home also includes solar with battery backup and a Tesla charger, adding everyday convenience and energy efficiency. From the interior updates to the major system improvements, this home has been consistently cared for and enhanced over time, offering peace of mind and a lifestyle buyers will appreciate. Motivated Seller!

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 $207,777. 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
Bathrooms2
Square feet1,489
Property typeSingle Family
MLS #7005186
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
Prefer virtual tour?
Free · No commitment · Typical reply in 15 min
Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
Call

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)
$1,432/mo
Source est. payment (PITI)
$1,992/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$207,777

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

$0$207,777
Additional funds needed$0

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