Properties / 6244 W KAREN LEE Lane
FHA ASSUMABLERate: 2.94%

6244 W KAREN LEE Lane

$440,000
Glendale, AZ 85306
4 beds2 baths1,505 sqftSingle Family
The assumable advantage
2.94%
FHA assumed rate
$41,074 interest already paid off
Estimated Loan Balance$220,012
Cash to close$221,023
Est. Monthly PITI$1,463
Initial Loan Amount$252,340
Time on site50 days
Remaining Term24 years, 1 month
Seller's equity (what you pay)
$219,988
Cash or secondary financing
Monthly savings
$1,532
Versus today's market rate
Est. savings per year
$18K
Versus today's market rate

About this home

Fantastic opportunity to own this 4-bedroom, 2-bath home on a coveted corner lot! You're greeted by a 2-car garage, an RV gate, brick accents, and a spacious front yard. Discover a serene living room with a neutral palette, blinds, and wood-look flooring. Spend intimate moments with loved ones in the family room, complete with a cozy fireplace for relaxing evenings. The gourmet kitchen comes with tile counters, pendant/recessed lighting, stainless steel appliances, a pantry, and an island with a breakfast bar for quick meals. The primary bedroom includes double built-in closets and a private bathroom for added comfort. Enjoy enchanting sunsets in the backyard, showcasing a covered patio, an attached shed for extra storage, stylish pavers, and a refreshing pool. Make this gem yours today!

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 $219,988. 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 feet1,505
Property typeSingle Family
MLS #7053862
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)
$1,063/mo
Source est. payment (PITI)
$1,463/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$219,988

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

$0$219,988
Additional funds needed$0

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