Properties / 2511 W QUEEN CREEK Road
FHA ASSUMABLERate: 2.28%

2511 W QUEEN CREEK Road

$3,900
Chandler, AZ 85248
1 beds2 baths862 sqftSingle Family
The assumable advantage
2.28%
FHA assumed rate
$21,152 interest already paid off
Estimated Loan Balance$173,705
Cash to close$0
Est. Monthly PITI$1,155
Initial Loan Amount$197,755
Time on site50 days
Remaining Term19 years, 11 months
Seller's equity (what you pay)
$0
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

RESORT Condo. Highly Upgraded with a modern style. Resort Living, Security Building, Underground Safe Parking, perfect for the guest who wants to be inspired or who loves travel. Super easy access to 10, 202 and 101. 20 Minutes from Sky Harbor. Spacious one bedroom with King Bed and TV as well as a separate office space/sitting room. Master bath with double sinks and granite counters, soaker tub, large walk-in closet. Open Floor Plan kitchen with granite breakfast bar and overlooking a great living room. Separate 1/2 bath and full laundry room. North facing balcony. Perfect morning sun and afternoon shade for sitting out. Resort Pool, Gym, Yoga and Movement Studio. Clubhouse featuring a kitchen, business center shuffleboard, pool and more. HEATED Resort Pool, spa, fire pits, outdoor kitchens, and cabanas. The Cays is a choice for the discriminating guest. Walking paths along the water, restaurants just steps away, perfect for meeting friends and for making new friends. Feels like home. The Cays at Downtown Ocotillo is surrounded by shopping, dining, and amenities, with convenient access to the San Tan Freeway, Loop I-10 and US 60. Outside The Cays suburban paradise: Admire the works of public art on display by local artists. Take a stroll through a century's worth of architectural hotspots. Enjoy live performances by the Chandler Symphony Orchestra. Revel in the myriad of food & cultural festivals. Follow the excitement of NASCAR drivers zipping by on the tracks, train in the IRONMAN triathlon, cruise along 327 miles of paved bike lanes and paths, or aim for a hole-in-one on any of our award-winning golf courses. Whether you're a diehard race car enthusiast, triathlete, or a golf aficionado, there's something for every sports fan in Chandler, Arizona. GOLFERS PARADISE: Guests at The Cays enjoy playing at the 27-hole Ocotillo Golf Club, pro shop, and restaurants. Rising out of the Arizona desert like an oasis, OCOTILLO GOLF CLUB is a golfer's paradise. Owned by Phil Michelson, the course encompasses rolling hills lined by mature trees, colorful flower beds and all shapes and sizes of water hazards. An alternative to the desert-style golf so commonplace in the valley, this sanctuary-like course is also one of the best-maintained facilities in the Phoenix-Scottsdale area. Boasting a list of amenities normally found only at the finest private clubs and resorts, Ocotillo is recognized as one of the finest daily-fee facilities in the country. Serving as a qualifier course for PGA Tour events, Ocotillo routinely receives a four-star rating in Golf Digest's annual guide. Ocotillo was also voted as one of the "Three Must-Play" courses in the valley - along with Troon North and the Boulders - in a recent Golf Digest Readers Poll. 30 Night Minimum Rental.

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 $0. 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

Bedrooms1
Bathrooms2
Square feet862
Property typeSingle Family
MLS #6728288
CountyMaricopa County
Assumable loanFHA
Tour this home
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Prefer virtual tour?
Free · No commitment · Typical reply in 15 min
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)
$905/mo
Source est. payment (PITI)
$1,155/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

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

Confirm the current loan balance and equity requirement with an agent before estimating cash needed.