Properties / 547 W MAHONEY Avenue
FHA ASSUMABLERate: 5.52%

547 W MAHONEY Avenue

$489,900
Mesa, AZ 85210
3 beds3 baths810 sqftSingle Family
The assumable advantage
5.52%
FHA assumed rate
$55,053 interest already paid off
Estimated Loan Balance$236,640
Cash to close$252,920
Est. Monthly PITI$1,802
Initial Loan Amount$251,322
Time on site2 days
Remaining Term26 years
Seller's equity (what you pay)
$253,260
Cash or secondary financing
Monthly savings
$1,459
Versus today's market rate
Est. savings per year
$18K
Versus today's market rate

About this home

You are going to love this unique home in north Mesa. It is in immaculate condition and has upgrades everywhere you look. The main home has 2 bedrooms and 2 baths. In the back there is a separate Studio room and a half bath. Lots of storage space outside. Covered patio in the backyard. No maintenance landscaping in the front. Ideal starter home if you're a first time buyer. It's also the perfect rental if you're an investor. Close to great schools & parks and only minutes to the 101, 202, and the US-60. This gem won't last long so hurry and come take a look while you still can. You won't be disappointed. Thanks for stopping in for a look.

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 $253,260. 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
Bathrooms3
Square feet810
Property typeSingle Family
MLS #7077111
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)
$1,430/mo
Source est. payment (PITI)
$1,802/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$253,260

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

$0$253,260
Additional funds needed$0

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