Properties / 2642 N EL DORADO Place
FHA ASSUMABLERate: 3.76%

2642 N EL DORADO Place

$450,000
Chandler, AZ 85224
3 beds3 baths1,708 sqftSingle Family
The assumable advantage
3.76%
FHA assumed rate
$51,506 interest already paid off
Estimated Loan Balance$297,784
Cash to close$153,352
Est. Monthly PITI$2,067
Initial Loan Amount$323,500
Time on site50 days
Remaining Term25 years, 8 months
Seller's equity (what you pay)
$152,216
Cash or secondary financing
Monthly savings
$1,145
Versus today's market rate
Est. savings per year
$14K
Versus today's market rate

About this home

Two Primary Suites • 3rd Bedroom with 3/4 Bath • Same Family Since 1987. Heatherbrook Square, Chandler. Loved by one family since it was built in 1987, this 1,708 SF home shares just a single sound-barrier wall, it lives more like a detached property. Vaulted ceilings, a wood-burning fireplace, and the original plantation shutters give it real character, while dual primary suites on separate levels, each with a private bath, make it endlessly flexible for guests, multigenerational living, or easy lock-and-leave. A 3rd bedroom with double doors adds a versatile home office, gym, or guest space, with its own 3/4 bath. The big-ticket items are already handled: new LVT flooring and interior paint (2022), roof (2022), HVAC (2019), water heater (2021), kitchen appliances (2022-2024), and a plumbing refresh (2022). Outside, a fully enclosed backyard with a brick paver patio, mature trees, and a storage shed keeps things private and low-maintenance, HOA handles the front yard. Community pool, spa, pickleball, tennis, and basketball courts are steps away, with Loop 101 under half a mile out.

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 $152,216. 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

Bedrooms3
Bathrooms3
Square feet1,708
Property typeSingle Family
MLS #7042778
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)
$1,509/mo
Source est. payment (PITI)
$2,067/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$152,216

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

$0$152,216
Additional funds needed$0

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