Properties / 3131 N CENTRAL Avenue
FHA ASSUMABLERate: 6.5%

3131 N CENTRAL Avenue

$553,999
Phoenix, AZ 85012
2 beds2 baths1,112 sqftSingle Family
The assumable advantage
6.5%
FHA assumed rate
$20,038 interest already paid off
Estimated Loan Balance$527,991
Cash to close$26,497
Est. Monthly PITI$3,997
Initial Loan Amount$529,923
Time on site50 days
Remaining Term29 years, 6 months
Seller's equity (what you pay)
$26,008
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

*Walls were painted and new photos have been added** Live the Midtown lifestyle in this beautifully upgraded Edison Midtown condo. This desirable end unit features 2 bedrooms, 2 bathrooms with soaring 10-foot ceilings, an open-concept layout, and beautiful views overlooking the pool and common areas from the spacious epoxy balcony. The chef's kitchen offers quartz countertops, expansive cabinetry, a gas range, stainless steel appliances, and an upgraded refrigerator. Washer, and dryer included. Approximately $15,000-$20,000 in premium improvements have been already completed. Thoughtfully enhanced throughout, the home includes powered window coverings (black out in the primary), ceramic window tint on every window, custom ceiling fans in every room, California Closets in the primary, designer pendant lighting, accent walls, TV-ready wall outlets, washer and dryer, reverse osmosis system, water softener, Ecobee thermostat, fingerprint entry lock, a Ring doorbell, and a professionally coated epoxy patio. Buyers can enjoy all of the benefits of new construction without the additional expense, hassle, or wait for post-closing upgrades. Enjoy resort-style amenities including a heated lap pool, spa, fitness center, resident lounge, a gas fireplace, grills, ping-pong tables and 2 gated garage parking spots.

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 $26,008. 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

Bedrooms2
Bathrooms2
Square feet1,112
Property typeSingle Family
MLS #7015118
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)
$3,356/mo
Source est. payment (PITI)
$3,997/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$26,008

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

$0$26,008
Additional funds needed$0

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