Properties / 527 E HERMOSA Drive
FHA ASSUMABLERate: 6.64%

527 E HERMOSA Drive

$515,000
Tempe, AZ 85282
4 beds2 baths1,696 sqftSingle Family
The assumable advantage
6.64%
FHA assumed rate
$80,093 interest already paid off
Estimated Loan Balance$492,756
Cash to close$22,760
Est. Monthly PITI$3,817
Initial Loan Amount$505,672
Time on site17 days
Remaining Term27 years, 7 months
Seller's equity (what you pay)
$22,244
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

TEMPE CHARMER Don't miss this 4 bedroom, 2 bath home in the heart of Tempe! NO HOA, updated floors and kitchen, fenced pool -Quick freeway access, minutes from ASU, Mill Ave and New dining and shopping! Great Tempe opportunity that will not last long!

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 $22,244. 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
Bathrooms2
Square feet1,696
Property typeSingle Family
MLS #7071154
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)
$3,250/mo
Source est. payment (PITI)
$3,817/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$22,244

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

$0$22,244
Additional funds needed$0

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