Properties / 2848 E BROWN Road
FHA ASSUMABLERate: 3.23%

2848 E BROWN Road

$365,000
Mesa, AZ 85213
3 beds2 baths1,322 sqftSingle Family
The assumable advantage
3.23%
FHA assumed rate
$35,976 interest already paid off
Estimated Loan Balance$171,449
Cash to close$195,105
Est. Monthly PITI$1,234
Initial Loan Amount$195,473
Time on site50 days
Remaining Term23 years, 11 months
Seller's equity (what you pay)
$193,551
Cash or secondary financing
Monthly savings
$1,295
Versus today's market rate
Est. savings per year
$16K
Versus today's market rate

About this home

Qualified buyers may have the opportunity to assume the seller's EXCEPTIONAL 3.1% INTEREST RATE - a rare advantage that could mean significantly lower monthly payments. Great opportunities in this market are difficult to find. This 3-bedroom, 2-bath home offers approximately 1,300 sq ft with soaring ceilings, wood flooring, a desirable split floor plan, and an open-concept living area featuring a cozy fireplace and dual French doors. Cosmetic updates provide the opportunity to add your own style while building equity. The spacious primary suite offers double sinks and privacy from the secondary bedrooms. A separate dining area, covered patio, fenced yard, two-car garage, community pool, park, shopping, dining, and a well-regarded Catholic school complete this exceptional opportunity.

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 $193,551. 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 feet1,322
Property typeSingle Family
MLS #7035092
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
Prefer virtual tour?
Free · No commitment · Typical reply in 15 min
Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
Call

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)
$858/mo
Source est. payment (PITI)
$1,234/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$193,551

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

$0$193,551
Additional funds needed$0

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