Properties / 1348 E LIBBY Street
FHA ASSUMABLERate: 6.99%

1348 E LIBBY Street

$520,000
Phoenix, AZ 85022
3 beds2 baths1,531 sqftSingle Family
The assumable advantage
6.99%
FHA assumed rate
$65,192 interest already paid off
Estimated Loan Balance$410,762
Cash to close$110,027
Est. Monthly PITI$3,301
Initial Loan Amount$419,210
Time on site50 days
Remaining Term27 years, 10 months
Seller's equity (what you pay)
$109,238
Cash or secondary financing
Monthly savings
$273
Versus today's market rate
Est. savings per year
$3K
Versus today's market rate

About this home

Beautiful single level residence with NO HOA. This immaculate 3 bed, 2 bath showcases vaulted ceilings, modern tile flooring and baseboards, upgraded kitchen with shaker style cabinets, granite countertops, breakfast bar, stainless steel appliances, and tile backsplash. The upgrades continue into the bathrooms, with updated vanities and granite countertops. Dual sinks at master bathroom, walk-in closet, and access to the backyard from the master suite. French doors at living room invite you to a backyard paradise, covered patio, pavers, mature landscape with turf, and a sparkling pool with waterfall. Come and see all this home has to offer.

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 $109,238. 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 feet1,531
Property typeSingle Family
MLS #7048138
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)
$2,794/mo
Source est. payment (PITI)
$3,301/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$109,238

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

$0$109,238
Additional funds needed$0

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