Properties / 12120 W PARKWAY Lane
FHA ASSUMABLERate: 5.88%

12120 W PARKWAY Lane

$525,000
Avondale, AZ 85323
5 beds4 baths2,908 sqftSingle Family
The assumable advantage
5.88%
FHA assumed rate
$91,573 interest already paid off
Estimated Loan Balance$516,613
Cash to close$16,422
Est. Monthly PITI$3,883
Initial Loan Amount$529,100
Time on site50 days
Remaining Term27 years
Seller's equity (what you pay)
$8,387
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

This very well priced 2-level home has an impressive great room with soaring ceiling. Spacious layout offers 5 bedrooms plus loft & den, 3.5 bathrooms, and a 2-car garage. The amazing interior has a lofty, airy design featuring an elegant great room chandelier, tile flooring, and stylish neutral tones. The entertainment-ready kitchen boasts ample cabinetry with crown molding, custom tile backsplash, solid-surface counters, stainless steel appliances, a walk-in pantry, and a large island. The primary retreat has a bathroom with double sinks and a separate shower & tub, as well as a walk-in closet for added organization. The versatile loft and den are perfect for working from the privacy of home or a quiet retreat. The backyard is ready for your own landscape design. Don't forget to visit the community's pool, tennis court, lake, and other amenities for fun times! Welcome home! Note: Great room: floor-to-ceiling motorized curtain & chandelier convey.

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 $8,387. 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
Bathrooms4
Square feet2,908
Property typeSingle Family
MLS #6900559
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)
$3,185/mo
Source est. payment (PITI)
$3,883/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$8,387

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

$0$8,387
Additional funds needed$0

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