Properties / 16715 E EL LAGO Boulevard
FHA ASSUMABLERate: 2.81%

16715 E EL LAGO Boulevard

$349,000
Fountain Hills, AZ 85268
2 beds2 baths1,067 sqftSingle Family
The assumable advantage
2.81%
FHA assumed rate
$33,589 interest already paid off
Estimated Loan Balance$208,861
Cash to close$142,532
Est. Monthly PITI$1,356
Initial Loan Amount$234,671
Time on site50 days
Remaining Term24 years, 8 months
Seller's equity (what you pay)
$140,139
Cash or secondary financing
Monthly savings
$1,079
Versus today's market rate
Est. savings per year
$13K
Versus today's market rate

About this home

Mountain views, modern updates, and a prime location near Fountain Park define this inviting Plaza Del Lago condo, offering style and convenience in one of Fountain Hills' most desirable settings. This 2-bedroom, 2-bath home spans approximately 1,100 square feet and features an updated interior with new flooring, granite countertops, and stainless steel appliances. The living area is highlighted by a fireplace and a unique wood plank accent wall that adds character and texture. Ceiling fans with remote controls are installed throughout the home. The kitchen is complete with granite countertops, an island, a pantry, and updated appliances. The spacious primary suite includes a walk-in closet and a recently remodeled bathroom with dual sinks and a soaking tub. A private balcony extends your living space outdoors, where you can enjoy views of the surrounding greenery and mountains. Residents of Plaza Del Lago enjoy access to a heated community pool, fitness center, and clubhouse, along with covered parking for added convenience. The community is ideally located on a quiet street within walking distance to Fountain Park, dining, shopping, and nearby parks.

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 $140,139. 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 feet1,067
Property typeSingle Family
MLS #7011288
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)
$979/mo
Source est. payment (PITI)
$1,356/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$140,139

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

$0$140,139
Additional funds needed$0

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