Properties / 3120 W PIERCE Street W
FHA ASSUMABLERate: 7.62%

3120 W PIERCE Street W

$320,000
Phoenix, AZ 85009
4 beds1 baths1,285 sqftSingle Family
The assumable advantage
7.62%
FHA assumed rate
$37,524 interest already paid off
Estimated Loan Balance$177,306
Cash to close$143,167
Est. Monthly PITI$1,617
Initial Loan Amount$181,318
Time on site50 days
Remaining Term27 years, 4 months
Seller's equity (what you pay)
$142,694
Cash or secondary financing
Monthly savings
$600
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

NICE AND CLEAN AND ''MOVE IN ''READY HOME. FRESHLY PAINTED INTERIOR,TILE FLOORS THRU OUT,CEILING FANS AND WINDOW COVERING THRU-OUT, LARGE FORMAL DINING ROOM,SMALL KITCHEN BUT WORKABLE, INSIDE LAUNDRY ROOM,REMODELED BATH. BEDROOMS ARE GOOD SIZE.NEWER A/C AND ROOF. STUCCO EXTERIOR. FRONT AND BACK, FENCED, WITH RV GATES. ....HUGE HUGE BACKYARD AND EVEN AT FRONT YOU HAVE A GOOD SIZED LOT.

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 $142,694. 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
Bathrooms1
Square feet1,285
Property typeSingle Family
MLS #7034392
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)
$1,287/mo
Source est. payment (PITI)
$1,617/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$142,694

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

$0$142,694
Additional funds needed$0

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