Properties / 1502 S PROSPECTORS Road
FHA ASSUMABLERate: 6.34%

1502 S PROSPECTORS Road

$825,000
Apache Junction, AZ 85119
5 beds3 baths2,517 sqftSingle Family
The assumable advantage
6.34%
FHA assumed rate
$98,709 interest already paid off
Estimated Loan Balance$471,930
Cash to close$355,255
Est. Monthly PITI$3,648
Initial Loan Amount$488,298
Time on site50 days
Remaining Term26 years, 10 months
Seller's equity (what you pay)
$353,070
Cash or secondary financing
Monthly savings
$1,812
Versus today's market rate
Est. savings per year
$22K
Versus today's market rate

About this home

This property was thoughtfully designed to take full advantage of its breathtaking natural surroundings, with incredible views of the Superstition Mountains and city lights. Meticulously maintained and updated, the home offers flexible living options with a total of 5 bedrooms and 3 baths, including what could be used as separate guest quarters featuring 2 bedrooms, a full bath, living area, and private entrance -- ideal for guests, multi-generational living, a home office, rental potential, or easily incorporated as one spacious five-bedroom home. Inside, the spacious great room features a cozy fireplace, vaulted ceilings, plantation shutters, and expansive windows and sliding glass doors that bring the desert landscape indoors. The kitchen offers abundant floor-to-ceiling cabinetry while every room throughout the home provides exceptional storage, including bonus built-in cabinets. The oversized guest bath includes granite counters and extensive cabinetry, and the upstairs primary suite features additional built-ins, a private balcony, and stunning mountain views for peaceful morning coffee or evening relaxation. Additional upgrades include dual AC units (one newer) with split thermostats for enhanced comfort and efficiency, plus newer tile flooring (2023 and 2026). Reverse Osmosis system. Outside, the 1.1-acre property is designed for both beauty and function with fenced backyard and courtyard spaces, grassy areas (turf!), flagstone walking paths, pavers, gazebo and picnic seating areas, xeriscape landscaping, and endless room for RVs, toys, and hobbies. Two RV hookup areas: one has 50 and 30 amp with water, electric, and dump access and the second has 30 amp with water. A massive 50x60 metal shop with concrete pad, plus additional carport and shed storage, provide incredible versatility. Located in a quiet pride-of-ownership neighborhood with no HOA, this property offers the perfect blend of privacy, comfort, and convenience -- just minutes from US-60, shopping, hiking trails, and nearby lakes.

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 $353,070. 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

Bedrooms5
Bathrooms3
Square feet2,517
Property typeSingle Family
MLS #7031061
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)
$3,053/mo
Source est. payment (PITI)
$3,648/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$353,070

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

$0$353,070
Additional funds needed$0

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