Properties / 280 S EVERGREEN Road
FHA ASSUMABLERate: 4.98%

280 S EVERGREEN Road

$388,000
Tempe, AZ 85288
2 beds3 baths1,190 sqftSingle Family
The assumable advantage
4.98%
FHA assumed rate
$81,106 interest already paid off
Estimated Loan Balance$370,692
Cash to close$17,891
Est. Monthly PITI$2,713
Initial Loan Amount$396,000
Time on site44 days
Remaining Term25 years, 10 months
Seller's equity (what you pay)
$17,308
Cash or secondary financing
Monthly savings
$160
Versus today's market rate
Est. savings per year
$2K
Versus today's market rate

About this home

Move-in ready condo in one of Tempe's most desirable gated communities! This property is FHA eligible! Ideally located just minutes from ASU, the Cubs Spring Training facility, Tempe Town Lake, shopping, dining, and convenient freeway access. This well-maintained home features newer flooring throughout with all carpet removed, two spacious upstairs primary suites, including one with a beautifully remodeled shower, newer appliances, a newer water heater, updated ceiling fans, and modern light fixtures. Enjoy a private patio with no rear neighbors for added privacy, plus a one-car garage. Fantastic amenities including two pools for you to enjoy! A wonderful opportunity in an unbeatable Tempe 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 $17,308. 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
Bathrooms3
Square feet1,190
Property typeSingle Family
MLS #7059674
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)
$2,128/mo
Source est. payment (PITI)
$2,713/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$17,308

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

$0$17,308
Additional funds needed$0

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