Properties / 2040 S LONGMORE
FHA ASSUMABLERate: 2.98%

2040 S LONGMORE

$264,900
Mesa, AZ 85202
3 beds3 baths1,296 sqftSingle Family
The assumable advantage
2.98%
FHA assumed rate
$34,463 interest already paid off
Estimated Loan Balance$215,232
Cash to close$50,624
Est. Monthly PITI$1,413
Initial Loan Amount$240,562
Time on site50 days
Remaining Term25 years
Seller's equity (what you pay)
$49,668
Cash or secondary financing
Monthly savings
$544
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

Well-maintained 3 bed, 2.5 bath corner-unit townhouse in the Dobson Glen community of Mesa. This 1,296 sq ft two-level home sits at the end of the building, offering added privacy and a cozy patio for relaxation and entertainment. The kitchen features granite countertops and stainless steel appliances, opening to a spacious living area with a fireplace and wet bar. Major systems have been cared for, including an AC replaced in 2023. Residents enjoy access to two pools, two spas, and two tennis courts. HOA fees include water, garbage, pest control, and exterior maintenance for added convenience.

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 $49,668. 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
Bathrooms3
Square feet1,296
Property typeSingle Family
MLS #7010758
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)
$1,018/mo
Source est. payment (PITI)
$1,413/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$49,668

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

$0$49,668
Additional funds needed$0

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