Properties / 845 S CERISE
FHA ASSUMABLERate: 6.87%

845 S CERISE

$535,000
Mesa, AZ 85208
4 beds3 baths2,096 sqftSingle Family
The assumable advantage
6.87%
FHA assumed rate
$16,911 interest already paid off
Estimated Loan Balance$155,063
Cash to close$380,651
Est. Monthly PITI$1,396
Initial Loan Amount$156,695
Time on site50 days
Remaining Term28 years, 6 months
Seller's equity (what you pay)
$379,937
Cash or secondary financing
Monthly savings
$2,120
Versus today's market rate
Est. savings per year
$25K
Versus today's market rate

About this home

4-bed/2.5-bath perfectly located near US-60 and Loop 202 for rapid valley-wide access. Fresh interior/exterior paint. Kitchen cabinets professionally refinished including custom recessed LED lighting and a designer island pendant. High efficiency upgrades: new Goodman 3.5 Ton 15.2 SEER2 Heat Pump system, condenser, air handler, heating element, supply/return plenums and all safety drainage components. The oversized premium lot is a rare find offering massive potential for an outdoor oasis or pool. Features soaring ceilings, luxury flooring, and a 2-car garage with epoxy finish. Weekly Sunday Showcase Only. No weekday or Saturday access; no exceptions. Please arrange all Sunday visits through Aligned by Friday at 5:00 PM. Tours will be conducted in 30-minute intervals. Respect Occupancy.

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 $379,937. 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

Bedrooms4
Bathrooms3
Square feet2,096
Property typeSingle Family
MLS #7005853
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)
$1,035/mo
Source est. payment (PITI)
$1,396/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$379,937

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

$0$379,937
Additional funds needed$0

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