Properties / 7628 E GARNET Avenue
FHA ASSUMABLERate: 3.76%

7628 E GARNET Avenue

$269,900
Mesa, AZ 85209
2 beds2 baths1,066 sqftSingle Family
The assumable advantage
3.76%
FHA assumed rate
$33,129 interest already paid off
Estimated Loan Balance$191,537
Cash to close$79,093
Est. Monthly PITI$1,305
Initial Loan Amount$208,078
Time on site50 days
Remaining Term25 years, 8 months
Seller's equity (what you pay)
$78,363
Cash or secondary financing
Monthly savings
$622
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

Remodeled 2-bedroom, 2-bath home with NO HOA! This move-in-ready home features updated flooring, cabinets, fixtures, lighting, windows, bathrooms, and new baseboards. The open-concept layout offers wood-look vinyl flooring, a neutral color palette, and abundant natural light. The bright kitchen overlooks the living area and includes white cabinetry, ample counter space, recessed lighting, a gas cooktop, and a large island with breakfast bar. The primary suite features dual closets and a private bath. Enjoy the covered patio and newly landscaped, low-maintenance backyard with a block wall enclosure.

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 $78,363. 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 feet1,066
Property typeSingle Family
MLS #7053881
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)
$970/mo
Source est. payment (PITI)
$1,305/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$78,363

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

$0$78,363
Additional funds needed$0

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