Properties / 714 E McKinley Street
FHA ASSUMABLERate: 3.45%

714 E McKinley Street

$529,000
Phoenix, AZ 85006
2 beds2 baths1,240 sqftSingle Family
The assumable advantage
3.45%
FHA assumed rate
$66,672 interest already paid off
Estimated Loan Balance$415,111
Cash to close$120,449
Est. Monthly PITI$2,671
Initial Loan Amount$449,328
Time on site50 days
Remaining Term25 years, 6 months
Seller's equity (what you pay)
$113,889
Cash or secondary financing
Monthly savings
$1,078
Versus today's market rate
Est. savings per year
$13K
Versus today's market rate

About this home

Experience timeless elegance in this beautifully restored historic home, where classic architecture meets refined modern living. Sun-filled rooms, graceful lines, and warm textures create an inviting sense of sophistication throughout, while the thoughtfully updated kitchen and serene living spaces blend charm with contemporary style. A versatile loft adds a boutique-hotel ambiance, perfect for work or retreat. Outside, the private backyard becomes an oasis of leisure with its charming mini golf course, ideal for playful afternoons, intimate gatherings, or quiet evenings under the desert sky. An upscale sanctuary in Phoenix's vibrant historic district. Can be sold furnished. Walking distance to all of downtown Phoenix attractions! You are truly in the heart of it all.

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 $113,889. 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 feet1,240
Property typeSingle Family
MLS #6957068
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)
$2,042/mo
Source est. payment (PITI)
$2,671/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$113,889

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

$0$113,889
Additional funds needed$0

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