Properties / 1486 W Calico Drive
FHA ASSUMABLERate: 6.95%

1486 W Calico Drive

$189,999
Meadview, AZ 86444
2 beds2 baths1,362 sqftSingle Family
The assumable advantage
6.95%
FHA assumed rate
$8,333 interest already paid off
Estimated Loan Balance$75,394
Cash to close$114,882
Est. Monthly PITI$762
Initial Loan Amount$76,312
Time on site36 days
Remaining Term28 years, 5 months
Seller's equity (what you pay)
$114,605
Cash or secondary financing
Monthly savings
$613
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

MOTIVATED SELLERS, BRING YOUR OFFER. Call your agent for a showing today. This two-story, dual-residence property offers incredible versatility and potential. Whether you re looking for a weekend getaway, a full-time home with a private in-law studio, or an income-producing opportunity as an Airbnb or rental, this property delivers. The home features Frigidaire appliances that are only a year old, along with three mini-split systems upstairs and one downstairs to keep the interior comfortable year-round. Tile flooring and countertops add durability and style, while the upstairs includes a beautifully finished tile shower. Enjoy the outdoors from spacious decks on both levels, offering stunning sunset views and sweeping vistas of the Grand Wash Cliffs. With state land across the street, your views remain open and uninterrupted. Additional highlights include easy road access, indoor laundry with extra storage, a second laundry area downstairs, and a convenient storage shed. Partial fencing provides a secure space for pets, and a two-car carport offers shaded parking. There s also plenty of room to build a future garage or expand to suit your needs.

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 $114,605. 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

Bedrooms2
Bathrooms2
Square feet1,362
Property typeSingle Family
MLS #038717
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)
$507/mo
Source est. payment (PITI)
$762/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$114,605

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

$0$114,605
Additional funds needed$0

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