Properties / 15016 N 27TH Drive
FHA ASSUMABLERate: 6.5%

15016 N 27TH Drive

$370,000
Phoenix, AZ 85053
3 beds3 baths1,400 sqftSingle Family
The assumable advantage
6.5%
FHA assumed rate
$41,662 interest already paid off
Estimated Loan Balance$346,714
Cash to close$23,639
Est. Monthly PITI$2,642
Initial Loan Amount$353,084
Time on site50 days
Remaining Term28 years, 3 months
Seller's equity (what you pay)
$23,286
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

BEAUTIFUL GEM IN A GREAT NEIGHBORHOOD. THIS CHARMING 3 BEDROOM SINGLE-FAMILY HOME WAS REBUILT FROM THE STUDS UP IN 2022. OPEN AND BRIGHT FLOOR PLAN THAT IS PERFECT FOR EVERYDAY LIVING. TILE FLOORS THROUGHOUT, AND BIG, OPEN LIVING ROOM. KITCHEN HAS GRANITE COUNTERTOPS AND STAINLESS STEEL APPLIANCES. BIG BEDROOMS AND PRIMARY BATH INCLUDES A WALK-IN SHOWER. BACKYARD HAS COVERED PATIO AND LOTS OF SPACE. HOME IS JUST MINUTES AWAY FROM GREAT SHOPPING AND DINING AND EASY ACCESS TO SEVERAL HIGHWAYS.

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 $23,286. 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 feet1,400
Property typeSingle Family
MLS #7011444
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)
$2,236/mo
Source est. payment (PITI)
$2,642/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$23,286

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

$0$23,286
Additional funds needed$0

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