Properties / 8955 W Luke Avenue
FHA ASSUMABLERate: 7.57%

8955 W Luke Avenue

$519,990
Glendale, AZ 85305
3 beds3 baths2,391 sqftSingle Family
The assumable advantage
7.57%
FHA assumed rate
$106,520 interest already paid off
Estimated Loan Balance$477,198
Cash to close$44,097
Est. Monthly PITI$4,133
Initial Loan Amount$488,975
Time on site50 days
Remaining Term27 years, 2 months
Seller's equity (what you pay)
$42,792
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

Welcome to 8955 W Luke Ave, a beautifully maintained home located in the highly desirable Westgate area! This spacious floor plan has 3 bedrooms, 2.5 bathrooms as well as a loft and office space. The spacious backyard offers endless possibilities to make it your own. Conveniently located near Loop 101, shopping, dining, entertainment, and State Farm Stadium, this home combines comfort, functionality, and an unbeatable location.

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 $42,792. 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 feet2,391
Property typeSingle Family
MLS #7036494
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)
$3,455/mo
Source est. payment (PITI)
$4,133/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$42,792

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

$0$42,792
Additional funds needed$0

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