Properties / 7138 E BAYWOOD Avenue
FHA ASSUMABLERate: 3.55%

7138 E BAYWOOD Avenue

$299,900
Mesa, AZ 85208
2 beds2 baths1,026 sqftSingle Family
The assumable advantage
3.55%
FHA assumed rate
$41,199 interest already paid off
Estimated Loan Balance$245,538
Cash to close$53,871
Est. Monthly PITI$1,620
Initial Loan Amount$269,637
Time on site1 day
Remaining Term25 years, 7 months
Seller's equity (what you pay)
$54,362
Cash or secondary financing
Monthly savings
$551
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

Welcome to this cozy home in Mesa, tile flooring with RV gate making it perfect for those with extra vehicles, trailers, or outdoor toys. Solar panels will help keep your bills low. You will love the low maintenance landscaping. Close to shopping, restaurants, hospital, schools and easy access to freeways 202 and 60.

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 $54,362. 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 feet1,026
Property typeSingle Family
MLS #7074860
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)
$1,218/mo
Source est. payment (PITI)
$1,620/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$54,362

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

$0$54,362
Additional funds needed$0

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