Properties / 512 W Claessens Drive
FHA ASSUMABLERate: 3.65%

512 W Claessens Drive

$255,000
Morristown, AZ 85342
3 beds2 baths1,310 sqftSingle Family
The assumable advantage
3.65%
FHA assumed rate
$36,747 interest already paid off
Estimated Loan Balance$143,799
Cash to close$111,521
Est. Monthly PITI$1,080
Initial Loan Amount$165,447
Time on site15 days
Remaining Term23 years, 6 months
Seller's equity (what you pay)
$111,201
Cash or secondary financing
Monthly savings
$744
Versus today's market rate
Est. savings per year
$9K
Versus today's market rate

About this home

Welcome to this charming 2019 Circle City home, offering just over 1,300 square feet of comfortable, thoughtfully designed living space. The home features 3 bedrooms, 2 bathrooms, plus a versatile den that could easily be used as a fourth bedroom, home office, or guest space. Inside, you'll find an inviting open layout with a spacious kitchen and beautiful center island, providing plenty of room for cooking, gathering, and entertaining. Additional features include ceiling fans, updated wood blinds, and a security screen door. Step outside and enjoy the great deck, perfect for entertaining, relaxing, or taking in Arizona's beautiful sunsets. The spacious backyard is fully enclosed with a wooden privacy fence and includes a storage shed for added convenience. The community offers a children's playground and park area with picnic tables, parking, and a basketball court. For those who love the outdoors, nearby state land provides easy access to miles of desert for riding, hiking, and exploring. A wonderful opportunity to enjoy comfortable living, outdoor space, and the relaxed Arizona lifestyle!

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 $111,201. 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
Bathrooms2
Square feet1,310
Property typeSingle Family
MLS #7072095
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)
$760/mo
Source est. payment (PITI)
$1,080/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$111,201

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

$0$111,201
Additional funds needed$0

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