Properties / 12713 W MANDALAY Lane
FHA ASSUMABLERate: 3.8%

12713 W MANDALAY Lane

$375,900
El Mirage, AZ 85335
4 beds3 baths2,178 sqftSingle Family
The assumable advantage
3.8%
FHA assumed rate
$63,630 interest already paid off
Estimated Loan Balance$94,011
Cash to close$282,593
Est. Monthly PITI$993
Initial Loan Amount$139,355
Time on site49 days
Remaining Term15 years, 11 months
Seller's equity (what you pay)
$281,889
Cash or secondary financing
Monthly savings
$1,560
Versus today's market rate
Est. savings per year
$19K
Versus today's market rate

About this home

A great opportunity for the first-time buyer or investor, this 4-bedroom, 3-bath home offers 2178 SqFt of living space with a main-floor great room and a spacious upstairs loft. One bedroom and bath are located on the main level, providing a comfortable option for guests. The upstairs primary suite features an en-suite bath with a dual-sink vanity and a walk-in closet. Two additional bedrooms, a full bath, and a conveniently placed laundry room complete the second floor. The backyard includes a covered patio with a ceiling fan, block fencing, a fenced dog run, and no immediate rear neighbors. Other features include stainless appliances in the kitchen, ceiling fans throughout, a security system, and a 2-car garage.

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 $281,889. 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
Bathrooms3
Square feet2,178
Property typeSingle Family
MLS #7057805
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)
$657/mo
Source est. payment (PITI)
$993/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$281,889

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

$0$281,889
Additional funds needed$0

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