Properties / 18261 N 1ST Avenue
FHA ASSUMABLERate: 3.98%

18261 N 1ST Avenue

$557,000
Phoenix, AZ 85023
3 beds2 baths1,694 sqftSingle Family
The assumable advantage
3.98%
FHA assumed rate
$82,026 interest already paid off
Estimated Loan Balance$160,092
Cash to close$397,373
Est. Monthly PITI$1,422
Initial Loan Amount$209,142
Time on site45 days
Remaining Term19 years
Seller's equity (what you pay)
$396,908
Cash or secondary financing
Monthly savings
$2,283
Versus today's market rate
Est. savings per year
$27K
Versus today's market rate

About this home

Beautifully updated home featuring extensive renovations throughout. Improvements include new flooring, updated kitchen with new cabinets, sinks, fixtures, remodeled bathrooms, newer electrical (partial), plumbing updates, new light fixtures, toilets, and all new windows. Fresh interior and exterior paint provide a clean, modern feel. The home features an opened-up vaulted ceiling, added laundry room, and office space (16' x 10' and 11' x 12'). Exterior upgrades include new landscaping and a paver driveway. Move-in ready with thoughtful updates and modern finishes throughout. BUYER TO VERIFY ALL FACTS AND FIGURES

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 $396,908. 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 feet1,694
Property typeSingle Family
MLS #7057868
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)
$1,002/mo
Source est. payment (PITI)
$1,422/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$396,908

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

$0$396,908
Additional funds needed$0

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