Properties / 10216 N 7TH Avenue
FHA ASSUMABLERate: 6%

10216 N 7TH Avenue

$231,000
Phoenix, AZ 85021
2 beds2 baths864 sqftSingle Family
The assumable advantage
6%
FHA assumed rate
$90,828 interest already paid off
Estimated Loan Balance$32,696
Cash to close$199,325
Est. Monthly PITI$743
Initial Loan Amount$83,729
Time on site50 days
Remaining Term6 years, 3 months
Seller's equity (what you pay)
$198,304
Cash or secondary financing
Monthly savings
$838
Versus today's market rate
Est. savings per year
$10K
Versus today's market rate

About this home

Welcome to this beautifully FULLY remodeled 2-bedroom, 2-bath condo offering comfort, style, and a place to truly feel at home. Thoughtful updates throughout create a bright, inviting space with modern finishes and a functional layout. Conveniently located near parks, schools, shopping, dining, and freeway access, this home combines everyday convenience with a warm and welcoming atmosphere. Move-in ready and waiting for its next chapter.

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 $198,304. 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 feet864
Property typeSingle Family
MLS #7037179
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)
$524/mo
Source est. payment (PITI)
$743/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$198,304

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

$0$198,304
Additional funds needed$0

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