Properties / 542 S HIGLEY Road
FHA ASSUMABLERate: 2.81%

542 S HIGLEY Road

$295,000
Mesa, AZ 85206
2 beds2 baths1,184 sqftSingle Family
The assumable advantage
2.81%
FHA assumed rate
$33,870 interest already paid off
Estimated Loan Balance$209,164
Cash to close$86,805
Est. Monthly PITI$1,379
Initial Loan Amount$236,634
Time on site50 days
Remaining Term24 years, 8 months
Seller's equity (what you pay)
$85,836
Cash or secondary financing
Monthly savings
$760
Versus today's market rate
Est. savings per year
$9K
Versus today's market rate

About this home

Start your next chapter here! Charming 2 bedrooms with 2 full baths, VAULTED ceilings, open great room/kitchen, large closets, screened in COVERED PATIO and 1 car garage. Low maintenance living with tile and PLANKING floors throughout, artificial grass in backyard and HOA maintaining most of the front yard. GRANITE counters in kitchen/bathrooms, 2018 AC, DUAL PANE LOW-E windows. Enjoy your covered porch from the FRENCH DOORS in the primary bedroom or from the kitchen. Kitchen nook with BAY WINDOW and BREAKFAST BAR overlook charming backyard. Large living room has a WINDOW BENCH ledge for reading or plants. Enjoy the rec center, pool, and all this quiet 55+ community offers.

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 $85,836. 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 feet1,184
Property typeSingle Family
MLS #7045537
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)
$980/mo
Source est. payment (PITI)
$1,379/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$85,836

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

$0$85,836
Additional funds needed$0

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