Properties / 1938 W WELDON Avenue
FHA ASSUMABLERate: 6.33%

1938 W WELDON Avenue

$440,000
Phoenix, AZ 85015
3 beds2 baths1,435 sqftSingle Family
The assumable advantage
6.33%
FHA assumed rate
$79,838 interest already paid off
Estimated Loan Balance$352,664
Cash to close$87,760
Est. Monthly PITI$2,715
Initial Loan Amount$367,928
Time on site15 days
Remaining Term26 years, 6 months
Seller's equity (what you pay)
$87,336
Cash or secondary financing
Monthly savings
$305
Versus today's market rate
Est. savings per year
$4K
Versus today's market rate

About this home

Move-in ready, full of character and NO HOA! This classic mid-century Phoenix home has been thoughtfully cared for and it shows. Nestled in Westwood Estates just minutes from the I-17 and Downtown Phoenix, this home blends vintage charm with thoughtful updates. Professionally stained concrete floors were completed in 2025. The inviting kitchen features green cabinetry, a breakfast nook and KitchenAid appliances purchased in 2023 that convey, along with the washer and dryer. The professionally landscaped backyard features a large patio for relaxing or entertaining, turf area, mature landscaping and a large storage shed that conveys. The primary suite includes additional permitted square footage adjacent to the half bath, providing space to create a future full bath and walk-in closet.

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 $87,336. 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 feet1,435
Property typeSingle Family
MLS #7070074
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
Prefer virtual tour?
Free · No commitment · Typical reply in 15 min
Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
Call

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)
$2,290/mo
Source est. payment (PITI)
$2,715/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$87,336

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

$0$87,336
Additional funds needed$0

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