Properties / 480 W CHERRYWOOD Drive
FHA ASSUMABLERate: 5.23%

480 W CHERRYWOOD Drive

$469,900
Chandler, AZ 85248
2 beds3 baths2,606 sqftSingle Family
The assumable advantage
5.23%
FHA assumed rate
$94,822 interest already paid off
Estimated Loan Balance$424,963
Cash to close$48,699
Est. Monthly PITI$3,204
Initial Loan Amount$448,717
Time on site50 days
Remaining Term25 years, 11 months
Seller's equity (what you pay)
$44,937
Cash or secondary financing
Monthly savings
$273
Versus today's market rate
Est. savings per year
$3K
Versus today's market rate

About this home

Welcome to Sun Lakes Ironwood Country Club, an Active adult 55+ community. This gated community wraps around the Ironwood Golf course. This course is rated #1 Nationally in short courses for 2026 by Golf Pass. Sun Lakes also features: Pickleball, tennis, swimming pools, spas, fitness centers, restaurants, clubs and activities for all interests. This beautiful 2 bedroom home features an open floor plan, vaulted ceiling, great room and living room, large den/office, natural light throughout, a large master suite with sitting area, full bath with double vanities and walk in closet. The exterior offers a low maintenance front and backyard landscape design . Your backyard oasis features a covered patio, turf yard, with flagstone seating area to relax and enjoy AZ sunny 70 degree winters days. Sun Lakes is a master planned 55+ community with 5 country club neighborhoods offering 45 holes of golf, an abundance of green grass, lakes and recreation areas. Don't wait, come see what you have been looking for today.

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 $44,937. 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
Bathrooms3
Square feet2,606
Property typeSingle Family
MLS #6984466
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)
$2,498/mo
Source est. payment (PITI)
$3,204/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$44,937

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

$0$44,937
Additional funds needed$0

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