Properties / 16392 W MADISON Street
FHA ASSUMABLERate: 6.96%

16392 W MADISON Street

$650,000
Goodyear, AZ 85338
4 beds3 baths2,456 sqftSingle Family
The assumable advantage
6.96%
FHA assumed rate
$109,291 interest already paid off
Estimated Loan Balance$515,719
Cash to close$134,813
Est. Monthly PITI$4,115
Initial Loan Amount$531,643
Time on site13 days
Remaining Term27 years, 1 month
Seller's equity (what you pay)
$134,281
Cash or secondary financing
Monthly savings
$303
Versus today's market rate
Est. savings per year
$4K
Versus today's market rate

About this home

Discover the ease of newer West Goodyear living in Bennett Meadows. Light-filled interiors, plantation shutters, and a clean, modern feel create a home that is both welcoming and refined. The open living spaces transition naturally to a covered patio and low-maintenance turf yard, making everyday downtime and casual entertaining equally effortless. Enjoy a location close to neighborhood parks and walking paths, everyday shopping, dining, and services, with convenient access to I-10 and Loop 303. A beautiful, move-in-ready opportunity in a growing area that keeps daily life connected and weekends full of options

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 $134,281. 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 feet2,456
Property typeSingle Family
MLS #7072871
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)
$3,530/mo
Source est. payment (PITI)
$4,115/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$134,281

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

$0$134,281
Additional funds needed$0

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