Properties / 5518 N ORMONDO Way
FHA ASSUMABLERate: 6.5%

5518 N ORMONDO Way

$475,000
Litchfield Park, AZ 85340
4 beds3 baths2,934 sqftSingle Family
The assumable advantage
6.5%
FHA assumed rate
$16,929 interest already paid off
Estimated Loan Balance$445,654
Cash to close$29,346
Est. Monthly PITI$3,335
Initial Loan Amount$447,700
Time on site50 days
Remaining Term29 years, 6 months
Seller's equity (what you pay)
$29,346
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

Loads of square footage in a highly sought-after Litchfield Park known for its top-rated schools! This expansive floorplan offers incredible versatility with multiple living areas, giving everyone their own space to spread out to live and relax after a long day. Beautifully remodeled bathrooms along with luxurious new floors upstairs makes it easy to settle in and make it your own. The heart of the home is the spacious kitchen, where mornings start at the breakfast bar for coffee and conversation. With ample cabinetry and counter space, everything has its place, making daily living both functional and enjoyable. Upstairs, the loft becomes the perfect movie night hangout, game room, or quiet escape. The backyard is designed for Arizona living - unwinding under the covered patio as the sun sets, neighbors or pets playing on the grassy area, and weekends filled with BBQs and laughter. The low-maintenance desert landscaping in front keeps things simple, while the rare 3-car garage offers room for vehicles, toys, and extra storage. Homes with this much space, comfort, and lifestyle appeal at this price are hard to find. You'll want to experience it for yourself before it's gone!

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 $29,346. 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

Bedrooms4
Bathrooms3
Square feet2,934
Property typeSingle Family
MLS #7018544
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)
$2,832/mo
Source est. payment (PITI)
$3,335/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$29,346

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

$0$29,346
Additional funds needed$0

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