Properties / 1543 E MISSION Lane
FHA ASSUMABLERate: 5.03%

1543 E MISSION Lane

$825,000
Phoenix, AZ 85020
5 beds3 baths4,135 sqftSingle Family
The assumable advantage
5.03%
FHA assumed rate
$171,590 interest already paid off
Estimated Loan Balance$161,819
Cash to close$668,409
Est. Monthly PITI$1,984
Initial Loan Amount$245,471
Time on site50 days
Remaining Term13 years, 7 months
Seller's equity (what you pay)
$663,181
Cash or secondary financing
Monthly savings
$3,493
Versus today's market rate
Est. savings per year
$42K
Versus today's market rate

About this home

Beautiful custom home with a rate that may be assumable in Davidson Heights offering generous space, refined finishes, and stunning city and mountain views. With over 4,100 sq ft, this thoughtfully designed residence includes 5 bedrooms, 3 full baths, an office, one bedroom currently a gym with a sauna, and a 2-car garage with loft storage. Vaulted ceilings, crown molding, and multiple fireplaces create a warm yet impressive atmosphere. French doors add charm and bring natural light into the open layout connecting the living and dining areas. The kitchen features a spacious island, granite countertops, and ample storage. The courtyard offers pavers, lush grass, and a cozy fire pit, while the backyard provides a covered patio with BBQ and two 2nd-floor balconies showcasing the views.

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 $663,181. 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
Bathrooms3
Square feet4,135
Property typeSingle Family
MLS #6954958
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)
$1,372/mo
Source est. payment (PITI)
$1,984/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$663,181

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

$0$663,181
Additional funds needed$0

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