Properties / 2621 N 50TH Lane
FHA ASSUMABLERate: 5.81%

2621 N 50TH Lane

$380,000
Phoenix, AZ 85035
4 beds2 baths1,242 sqftSingle Family
The assumable advantage
5.81%
FHA assumed rate
$83,883 interest already paid off
Estimated Loan Balance$343,559
Cash to close$36,441
Est. Monthly PITI$2,612
Initial Loan Amount$363,298
Time on site16 days
Remaining Term26 years
Seller's equity (what you pay)
$36,441
Cash or secondary financing
Monthly savings
$104
Versus today's market rate
Est. savings per year
$1K
Versus today's market rate

About this home

4 spacious bedrooms 2 bath home in a fantastic location near shopping, restaurants, schools & parks. Host your summer pool parties with your very own pool and large backyard. Well mantained neighborhood with no HOA. Home boasts tile flooring throughout, Vaulted Ceilings, Fresh interior paint, tiled showers, large laundry room with mini split and has so much more to offer. Ask me how you can assume the current loan at 4.37% interest rate. Water filtration system, camaras, ring doorbell, window coverings and drapery rods do not convey.

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 $36,441. 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

Bedrooms4
Bathrooms2
Square feet1,242
Property typeSingle Family
MLS #7070853
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)
$2,137/mo
Source est. payment (PITI)
$2,612/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$36,441

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

$0$36,441
Additional funds needed$0

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