Properties / 1342 W EMERALD Avenue
FHA ASSUMABLERate: 3.23%

1342 W EMERALD Avenue

$253,000
Mesa, AZ 85202
2 beds2 baths1,038 sqftSingle Family
The assumable advantage
3.23%
FHA assumed rate
$32,391 interest already paid off
Estimated Loan Balance$152,778
Cash to close$101,948
Est. Monthly PITI$1,066
Initial Loan Amount$173,794
Time on site50 days
Remaining Term23 years, 11 months
Seller's equity (what you pay)
$100,222
Cash or secondary financing
Monthly savings
$727
Versus today's market rate
Est. savings per year
$9K
Versus today's market rate

About this home

Your Villas Mesa Home Is Here! Your 2 bedroom, 1.5 bathroom home lies in the heart of the Mesa Fiesta District. Master and loft style bedrooms are located on the second floor. Kitchen is quaint with a lot of counter space, storage is not a problem with under stair pantry. Black and stainless appliances will amaze the chef in your family. Tile flooring updated throughout the home with carpet in all the right places. Recently upgraded vinyl windows and doors for energy efficiency. Private front yard offers the perfect space for a barbecue or a relaxing evening with friends. Assigned covered parking and community pool. Located minutes away from Mesa Community College, Light Rail, Cubs Stadium and local 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 $100,222. 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 feet1,038
Property typeSingle Family
MLS #7013785
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)
$765/mo
Source est. payment (PITI)
$1,066/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$100,222

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

$0$100,222
Additional funds needed$0

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