Properties / 600 W GROVE Parkway
FHA ASSUMABLERate: 2.98%

600 W GROVE Parkway

$225,000
Tempe, AZ 85283
1 beds1 baths778 sqftSingle Family
The assumable advantage
2.98%
FHA assumed rate
$28,646 interest already paid off
Estimated Loan Balance$172,028
Cash to close$52,972
Est. Monthly PITI$1,175
Initial Loan Amount$194,000
Time on site15 days
Remaining Term24 years, 10 months
Seller's equity (what you pay)
$52,972
Cash or secondary financing
Monthly savings
$509
Versus today's market rate
Est. savings per year
$6K
Versus today's market rate

About this home

HUGE OPPORTUNITY: This property is located in a Community Lending eligible area and may offer qualified buyers special financing incentives, including reduced interest rates and/or closing cost assistance. Ask your agent for additional details and eligibility requirements. Welcome to easy, resort-style living in the wonderful gated Signature Place community with your own attached garage! This beautifully updated 1BR/1BA condo offers a stylish, low-maintenance lifestyle in a fantastic Tempe location. The light & inviting interior features an updated kitchen with quartz countertops and quality cabinetry, attractive flooring, an updated bath, and a spacious laundry room. All this with the added convenience of being on the ground level! Enjoy an impressive collection of community amenities, including spa, a fitness center, tennis and racquetball courts, clubhouse, BBQ and gathering areas, and walking and biking paths. The convenient location puts you close to ASU, Downtown Tempe and Mill Avenue, Tempe Town Lake, Arizona Mills, shopping, dining and entertainment. Ideally located near I-10 and Phoenix Sky Harbor International Airport, with convenient connections to the Valley's major freeway network for easy access throughout the greater Phoenix and Scottsdale areas. Whether you're looking for a full-time residence, seasonal retreat, or a convenient lock-and-leave home, this move-in-ready condo combines comfort, style, amenities and an outstanding Tempe location. Come see everything this home and community have to offer! A true gem in this sought-after community, with opportunities like this rarely available. Items Updated in 2018 info. was provided by previous listing before current seller bought the property. Please confirm with lender if this community is FHA and/or VA eligible. Please confirm with HOA what their rules are. Buyers to verify all material matters.

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 $52,972. 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

Bedrooms1
Bathrooms1
Square feet778
Property typeSingle Family
MLS #7070850
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)
$818/mo
Source est. payment (PITI)
$1,175/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$52,972

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

$0$52,972
Additional funds needed$0

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