Properties / 2150 W ALAMEDA Road
FHA ASSUMABLERate: 3.62%

2150 W ALAMEDA Road

$299,999
Phoenix, AZ 85085
2 beds2 baths1,125 sqftSingle Family
The assumable advantage
3.62%
FHA assumed rate
$48,312 interest already paid off
Estimated Loan Balance$179,551
Cash to close$122,473
Est. Monthly PITI$1,332
Initial Loan Amount$207,178
Time on site50 days
Remaining Term23 years, 1 month
Seller's equity (what you pay)
$120,448
Cash or secondary financing
Monthly savings
$812
Versus today's market rate
Est. savings per year
$10K
Versus today's market rate

About this home

Beautifully maintained 2-bedroom, 2-bath condo with garage located in the gated Villagio at Happy Valley community by Norterra. This light-filled home features soaring ceilings, abundant natural light, neutral finishes, tile flooring in all the right places, and upgraded 2-panel interior doors. The kitchen offers rich toffee-colored maple cabinetry, black appliances, built-in microwave, breakfast bar seating, and a spacious walk-in pantry. The generous primary suite includes private balcony access and an ensuite bath with a private water closet and walk-in closet. Residents of Villagio at Happy Valley enjoy two resort-style pool and spa areas, each with fireplaces, BBQ pergolas, and restrooms. Conveniently located near restaurants, shopping, and entertainment.

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 $120,448. 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 feet1,125
Property typeSingle Family
MLS #7021342
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
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
Call

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)
$957/mo
Source est. payment (PITI)
$1,332/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$120,448

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

$0$120,448
Additional funds needed$0

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