Properties / 2624 N RICARDO
FHA ASSUMABLERate: 6.43%

2624 N RICARDO

$440,000
Mesa, AZ 85215
3 beds2 baths1,414 sqftSingle Family
The assumable advantage
6.43%
FHA assumed rate
$84,413 interest already paid off
Estimated Loan Balance$408,285
Cash to close$33,107
Est. Monthly PITI$3,135
Initial Loan Amount$422,211
Time on site50 days
Remaining Term26 years, 11 months
Seller's equity (what you pay)
$31,715
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

No HOA! Step inside a home that feels bright, comfortable, and easy to live in. The remodeled kitchen is the natural gathering place, with quartz counters, new cabinetry, new appliances, and a breakfast bar perfect for coffee, homework, or catching up while dinner is made. Vaulted ceilings and a great room layout give the home an open, relaxed feel, while the large dining area is ready for holidays, game nights, and everyday meals. The private primary suite offers a quiet place to unwind, with a walk-in closet and remodeled bath featuring new tile, double sinks, and a separate shower and tub. Enjoy indoor laundry, a 2-car garage, low-maintenance desert landscaping, and a private backyard patio made for peaceful evenings. No HOA, near freeways, shopping, dining, and daily conveniences.

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 $31,715. 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
Bathrooms2
Square feet1,414
Property typeSingle Family
MLS #7043786
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)
$2,661/mo
Source est. payment (PITI)
$3,135/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$31,715

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

$0$31,715
Additional funds needed$0

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