Properties / 1502 E EMERALD Avenue
FHA ASSUMABLERate: 6.5%

1502 E EMERALD Avenue

$415,000
Mesa, AZ 85204
3 beds2 baths1,367 sqftSingle Family
The assumable advantage
6.5%
FHA assumed rate
$8,512 interest already paid off
Estimated Loan Balance$313,993
Cash to close$101,007
Est. Monthly PITI$2,354
Initial Loan Amount$314,852
Time on site50 days
Remaining Term29 years, 8 months
Seller's equity (what you pay)
$101,007
Cash or secondary financing
Monthly savings
$455
Versus today's market rate
Est. savings per year
$5K
Versus today's market rate

About this home

Welcome to 1502 E Emerald Ave, a great opportunity to own a home in the heart of Mesa! Located in an established neighborhood, this property offers convenient access to Mesa High School, Banner Desert Medical Center, Mesa Community College, shopping, dining, parks, and Downtown Mesa. With easy access to the US-60, commuting throughout the Valley is simple and convenient. The spacious lot offers room for outdoor enjoyment, entertaining, gardening, or future possibilities. Whether you're a first-time homebuyer, investor, or looking for a home to make your own, this property offers outstanding potential in a highly desirable Mesa location. Don't miss the chance to own a home close to everyday amenities, schools, and major transportation routes.

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 $101,007. 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 feet1,367
Property typeSingle Family
MLS #7036903
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)
$1,992/mo
Source est. payment (PITI)
$2,354/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$101,007

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

$0$101,007
Additional funds needed$0

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