Properties / 1109 W INDIAN SCHOOL Road
FHA ASSUMABLERate: 2.83%

1109 W INDIAN SCHOOL Road

$449,900
Phoenix, AZ 85013
3 beds2 baths1,203 sqftSingle Family
The assumable advantage
2.83%
FHA assumed rate
$48,937 interest already paid off
Estimated Loan Balance$283,912
Cash to close$169,940
Est. Monthly PITI$1,788
Initial Loan Amount$321,077
Time on site50 days
Remaining Term24 years, 3 months
Seller's equity (what you pay)
$165,988
Cash or secondary financing
Monthly savings
$1,303
Versus today's market rate
Est. savings per year
$16K
Versus today's market rate

About this home

Motivated sellers! Charming 3-bedroom, 2-bath home in Phoenix available! Enjoy low-maintenance landscaping and a 1 + car tandem garage for added convenience. Inside, you'll find an open floor plan with neutral tones and a stylish kitchen featuring quartz countertops, tile backsplash, ample cabinetry, and a breakfast bar island. Stainless steel refrigerator, dishwasher, and gas range. The spacious primary suite offers a private exit, en-suite bath, and walk-in closet. Step outside to a cozy backyard with a gazebo & sparkling pool, perfect for warm summer days.

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 $165,988. 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

Bedrooms3
Bathrooms2
Square feet1,203
Property typeSingle Family
MLS #6986221
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)
$1,350/mo
Source est. payment (PITI)
$1,788/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$165,988

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

$0$165,988
Additional funds needed$0

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