Properties / 220 N 22nd Place N
FHA ASSUMABLERate: 5.5%

220 N 22nd Place N

$239,000
Mesa, AZ 85213
2 beds2 baths1,155 sqftSingle Family
The assumable advantage
5.5%
FHA assumed rate
$87,210 interest already paid off
Estimated Loan Balance$37,740
Cash to close$203,322
Est. Monthly PITI$786
Initial Loan Amount$90,297
Time on site50 days
Remaining Term6 years, 11 months
Seller's equity (what you pay)
$201,260
Cash or secondary financing
Monthly savings
$861
Versus today's market rate
Est. savings per year
$10K
Versus today's market rate

About this home

Enjoy Arizona sunsets from your private deck!! Welcome Home to one of Mesa's favorite communities, Del Camino Villas. This home has been gently lived in and occupied only 3 months of the year for the last 16 years. NEW AC 2025!! NEW STOVE & MICROWAVE in 2023!! VAULTED CEILINGS & SKYLIGHT WINDOWS !! PRIVATE DECK OVERLOOKING ONE OF FOUR COMMUNITY POOLS and RAMADA AREAS!! HOA fee covers water, trash, roof, and exterior maintenance. Perfect for full time or part time residence. DON'T MISS This Opportunity to own your own Arizona Retreat! Seller will include some or all of the furnishings. Convenient Location, Close to Schools , Restaurants, Shopping and freeway access to Entertainment Centers, Scottsdale, Tempe, Casinos, Airport, upscale dining, shopping, Golf and Sports

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 $201,260. 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 feet1,155
Property typeSingle Family
MLS #6995181
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)
$548/mo
Source est. payment (PITI)
$786/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$201,260

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

$0$201,260
Additional funds needed$0

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