Properties / 5109 S 11TH Street
FHA ASSUMABLERate: 6.9%

5109 S 11TH Street

$399,000
Phoenix, AZ 85040
4 beds2 baths1,470 sqftSingle Family
The assumable advantage
6.9%
FHA assumed rate
$98,347 interest already paid off
Estimated Loan Balance$372,902
Cash to close$26,921
Est. Monthly PITI$3,169
Initial Loan Amount$387,845
Time on site50 days
Remaining Term26 years, 4 months
Seller's equity (what you pay)
$26,098
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

Beautiful 4BR/2BA home, offering a clean modern feel just minutes from downtown Phoenix. Inside, you'll find a bright open concept living area with neutral tones, recessed lighting, and durable tile and laminate flooring throughout--carpet only in the front bedroom for added comfort. The spacious kitchen features crisp white cabinetry, stainless steel appliances, and plenty of counter space, flowing seamlessly into the living room for entertaining. The primary suite includes a double sink vanity and a large walk in shower. A dedicated laundry room provides extra storage and pantry space. A low maintenance backyard with pavers, synthetic turf and rock landscaping. This home blends modern finishes, efficient design, and a convenient location close to dining, entertainment, and freeway access

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 $26,098. 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

Bedrooms4
Bathrooms2
Square feet1,470
Property typeSingle Family
MLS #7055953
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)
$2,563/mo
Source est. payment (PITI)
$3,169/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$26,098

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

$0$26,098
Additional funds needed$0

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