Properties / 10856 W LUKE Avenue
FHA ASSUMABLERate: 4.17%

10856 W LUKE Avenue

$434,900
Phoenix, AZ 85037
4 beds3 baths2,028 sqftSingle Family
The assumable advantage
4.17%
FHA assumed rate
$65,104 interest already paid off
Estimated Loan Balance$348,996
Cash to close$88,984
Est. Monthly PITI$2,497
Initial Loan Amount$374,440
Time on site50 days
Remaining Term25 years, 9 months
Seller's equity (what you pay)
$85,904
Cash or secondary financing
Monthly savings
$721
Versus today's market rate
Est. savings per year
$9K
Versus today's market rate

About this home

Welcome to the beautiful and well maintained subdivision of Camelback Ranch. This beauty is in immaculate condition and has a great floor plan. 4 good sized bedrooms, 3 baths, spacious living room and dining room area. Your new kitchen offers an island with breakfast bar, granite countertops, upgraded cabinetry, and contemporary light fixtures. No maintenance landscaping in the backyard along with a covered patio and plenty of room to relax and entertain. Only minutes from great schools & parks, shopping, restaurants and the I-10 & and 101. It's a dream of a home and you won't be disappointed so come take a look and see for yourself. Thanks for stopping in.

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 $85,904. 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 feet2,028
Property typeSingle Family
MLS #7003078
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
Prefer virtual tour?
Free · No commitment · Typical reply in 15 min
Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
Call

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)
$1,844/mo
Source est. payment (PITI)
$2,497/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$85,904

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

$0$85,904
Additional funds needed$0

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