Properties / 8927 W PARADISE Drive
FHA ASSUMABLERate: 2.81%

8927 W PARADISE Drive

$392,000
Peoria, AZ 85345
3 beds2 baths1,575 sqftSingle Family
The assumable advantage
2.81%
FHA assumed rate
$46,660 interest already paid off
Estimated Loan Balance$295,372
Cash to close$105,191
Est. Monthly PITI$1,820
Initial Loan Amount$325,986
Time on site50 days
Remaining Term24 years, 8 months
Seller's equity (what you pay)
$96,628
Cash or secondary financing
Monthly savings
$928
Versus today's market rate
Est. savings per year
$11K
Versus today's market rate

About this home

This home in Granite Run neighborhood features 3-bed/2-bath, vaulted ceilings, split bedroom floorplan, formal dining room, and an eat-in kitchen. The Master bedroom is located at the back of the home and has a spacious walk-in closet. The master bath is complete with a garden tub, separate shower and double sinks. Close to the 101 and Westgate, the new VAI resort and Mattel theme park.

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 $96,628. 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 feet1,575
Property typeSingle Family
MLS #6875330
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)
$1,384/mo
Source est. payment (PITI)
$1,820/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$96,628

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

$0$96,628
Additional funds needed$0

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