Properties / 2470 S 242ND Lane
FHA ASSUMABLERate: 6.81%

2470 S 242ND Lane

$344,900
Buckeye, AZ 85326
3 beds2 baths1,602 sqftSingle Family
The assumable advantage
6.81%
FHA assumed rate
$1,177 interest already paid off
Estimated Loan Balance$13,748
Cash to close$331,168
Est. Monthly PITI$462
Initial Loan Amount$13,934
Time on site30 days
Remaining Term25 years, 10 months
Seller's equity (what you pay)
$331,152
Cash or secondary financing
Monthly savings
$1,940
Versus today's market rate
Est. savings per year
$23K
Versus today's market rate

About this home

3 Bedroom 2 bath house. 3 CAR OVERSIZED TANDUM GARAGE to store your toys. TILE FLOORS throughout the main living areas and BRAND NEW CARPETING in all the bedrooms. Kitchen has GRANITE counters, Sit-Down ISLAND, STAINLESS STEEL appliances. All rooms have CUSTOM WINDOW BLINDS and CEILING FANS. Backyard is PROFESSIONALY DESIGNED LANDSCAPING with faux grass. Master bathroom has double sinks, linen closet and a WALK-IN CLOSET. Minutes from Shopping, Restaurants and schools.

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 $331,152. 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
Bathrooms2
Square feet1,602
Property typeSingle Family
MLS #7065715
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)
$94/mo
Source est. payment (PITI)
$462/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$331,152

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

$0$331,152
Additional funds needed$0

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