Properties / 3481 S BOWMAN Road
FHA ASSUMABLERate: 5.78%

3481 S BOWMAN Road

$339,500
Apache Junction, AZ 85119
2 beds2 baths1,040 sqftSingle Family
The assumable advantage
5.78%
FHA assumed rate
$66,928 interest already paid off
Estimated Loan Balance$275,498
Cash to close$64,381
Est. Monthly PITI$2,154
Initial Loan Amount$291,412
Time on site23 days
Remaining Term25 years, 11 months
Seller's equity (what you pay)
$64,002
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

New exterior paint, New AC/Heat unit, New Roof! Ready for your interior touches! Open floor plan, 20-inch tile in just the right places! The kitchen boasts granite countertops and stainless-steel appliances! Block walled back patio with room to entertain. The subdivision has a community pool for those hot summer days! Your commute is made easy with access to the I60 at Goldfield Rd.

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 $64,002. 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

Bedrooms2
Bathrooms2
Square feet1,040
Property typeSingle Family
MLS #7068610
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)
$1,711/mo
Source est. payment (PITI)
$2,154/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$64,002

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

$0$64,002
Additional funds needed$0

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