Properties / 5629 S 21st Place
FHA ASSUMABLERate: 4.5%

5629 S 21st Place

$338,500
Phoenix, AZ 85040
3 beds2 baths1,463 sqftSingle Family
The assumable advantage
4.5%
FHA assumed rate
$117,111 interest already paid off
Estimated Loan Balance$111,126
Cash to close$228,930
Est. Monthly PITI$1,357
Initial Loan Amount$184,222
Time on site50 days
Remaining Term12 years, 10 months
Seller's equity (what you pay)
$227,374
Cash or secondary financing
Monthly savings
$1,045
Versus today's market rate
Est. savings per year
$13K
Versus today's market rate

About this home

Charming and full of character, this 3-bedroom, 2-bath end-unit townhome in Phoenix's Copper Leaf community offers 1,463 square feet of living space across three levels! The ground floor features a private split primary suite, complete with a curved glass-block walk-in shower, custom closet, and a granite vanity with a designer stone sink bowl, plus its own private toilet room. A conveniently located laundry room on this level comes equipped with a front-loading washer and dryer. Upstairs on level 2, soaring vaulted ceilings and a charming exposed brick accent wall set the tone for the open main living area and upgraded kitchen, boasting granite counters, stainless steel appliances, and plenty of prep space. This level also hosts two well-sized secondary bedrooms and a full bath. A dramatic spiral staircase leads up to the oversized loft with Juliet balcony, presenting a versatile bonus space perfect for a second living and entertainment area, game room, workout room, or home office. Cherrywood shutters and cherrywood-look vinyl flooring run throughout the main living areas, while brand-new carpet adds a fresh touch to the stairs, bedrooms, and loft. Set within a tree-lined, amenity-rich neighborhood featuring a community pool, rec center, playgrounds, and walking/biking paths, the home sits just steps from Hermoso Park and minutes from South Mountain Park and Preserve, with easy access to Downtown Phoenix and major freeways!

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 $227,374. 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

Bedrooms3
Bathrooms2
Square feet1,463
Property typeSingle Family
MLS #7046885
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)
$951/mo
Source est. payment (PITI)
$1,357/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$227,374

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

$0$227,374
Additional funds needed$0

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