Properties / 951 E PENNY Lane
FHA ASSUMABLERate: 6.76%

951 E PENNY Lane

$524,999
San Tan Valley, AZ 85140
4 beds3 baths3,055 sqftSingle Family
The assumable advantage
6.76%
FHA assumed rate
$41,689 interest already paid off
Estimated Loan Balance$409,843
Cash to close$117,082
Est. Monthly PITI$3,214
Initial Loan Amount$414,249
Time on site50 days
Remaining Term28 years, 6 months
Seller's equity (what you pay)
$115,156
Cash or secondary financing
Monthly savings
$391
Versus today's market rate
Est. savings per year
$5K
Versus today's market rate

About this home

Come see this spacious two-story home featuring an amazing open floor plan designed for comfortable living and entertaining. This home offers 4 bedrooms, 2.5 baths, plus a versatile den/office downstairs--perfect for today's lifestyle. Upstairs, you'll find a loft ideal for a game room, additional office space, or cozy sitting area. Enjoy vaulted ceilings that enhance the home's open feel, along with a 3-car garage offering ample cabinet storage and a large driveway. The exterior has just been freshly painted, adding to its curb appeal. Located in a community with multiple parks and conveniently close to shopping. More photos coming soon!

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 $115,156. 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 feet3,055
Property typeSingle Family
MLS #7012744
CountyMaricopa County
Assumable loanFHA
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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)
$2,705/mo
Source est. payment (PITI)
$3,214/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$115,156

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

$0$115,156
Additional funds needed$0

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