Properties / 1412 S 13TH Place
FHA ASSUMABLERate: 2.94%

1412 S 13TH Place

$188,100
Phoenix, AZ 85034
3 beds1 baths921 sqftSingle Family
The assumable advantage
2.94%
FHA assumed rate
$31,310 interest already paid off
Estimated Loan Balance$169,662
Cash to close$20,787
Est. Monthly PITI$1,118
Initial Loan Amount$192,350
Time on site50 days
Remaining Term24 years, 2 months
Seller's equity (what you pay)
$18,438
Cash or secondary financing
Monthly savings
$291
Versus today's market rate
Est. savings per year
$3K
Versus today's market rate

About this home

This Ranch style single family home offers 3 bedrooms and 1 bathroom with approximately 921 square feet of living space on a 0.11 acre lot. There are no inspection or financing contingencies on this cash only purchase. No Buyer Premium on this property. The data presented in this listing is deemed reliable but not guaranteed. This information should be used for informational use only and does not constitute a legal document for the description of this property. Buyer or Buyer's Agent to verify all facts, figures, schools, dimensions, Sq Ft, permits, HOA fees etc. that is of material importance to Buyer.

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 $18,438. 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
Bathrooms1
Square feet921
Property typeSingle Family
MLS #6996686
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)
$818/mo
Source est. payment (PITI)
$1,118/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$18,438

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

$0$18,438
Additional funds needed$0

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