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Closed
Closed

$365,000

($75,262 down)
FHA

5516 W CAMBRIDGE Avenue, Phoenix, AZ 85035

3
2
1,249 sqft
PITI Monthly
$1,763.74 /mo

Listing courtesy of: Emilio Jesus Ramirez, HomeSmart

Assumed Rate

3.06%
7.15%

Principal & Interest

$1,310 /mo
$2,082 /mo
$35,451 in interest paid off

What's Special

STAINLESS STEEL APPLIANCES
PATIO
NO HOA
Welcome home! Take a look at this lovely single-story residence with no HOA! This beauty features a large front yard, and a 2-car garage. Come inside
to find a well-sized open floor plan showcasing a trending palette, tall ceilings, and stylish tile flooring. The kitchen is a homemaker's delight, outfitted
with quartz counters, track lighting, ample white cabinetry, and stainless steel appliances, including a wine cooler. An island with a breakfast bar is ideal
for morning conversations! The main bedroom has plush carpeting and a private bathroom for added comfort. Relax in the verdant backy... Show more
... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
3.06
Remaining Loan Term
26 years, 1 months
Monthly PITI
$1,763.74/mo
Estimated Loan Balance
$295,924
Cash to close
$75,262
Interest Paid
$35,451

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 3
  • Bathrooms: 2
Cooling & Heating
  • Cooling: Refrigeration
  • Heating: Electric
Features
  • Materials: Painted, Block
  • Community: Unknown
  • Has Fireplace: No
  • Fireplace Features: None
  • Flooring: Carpet, Tile

Exterior

Fencing
  • Fencing: Block
Roof
  • Roof: Composition
Parking
  • Garage: Yes
  • Garage Spaces: 2
  • Carport: Yes
  • Carport Spaces: 2
Water
  • Sewer: Public Sewer
  • Water Source: City Water
Pool
  • Has Pool: No
  • Pool Features: None

Construction

Type & Style
  • Stories: 1
  • Home type: Single Family - Detached
  • Architectural Style: Ranch
Materials
  • Painted, Block
  • Roof: Composition
Condition
  • Year Built: 1969
Details
  • Builder: UNKNOWN

Community & HOA

Community
  • Subdivision: HOMESTEAD TERRACE UNIT 4
  • Features:
HOA
  • Has HOA: No
Location
  • Region: Phoenix

Financial Details

  • Price per Sqft: $292.23
  • Tax Annual Amount: $1026
  • On Market Date: Jul 04, 2024
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Savings Calculator

Current cash to close is $75,262 (21%)
You can enter any amount below - secondary financing will cover the difference if needed.
21%
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0%20%50%

You cover the entire equity of $75,262!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.06% Sellers Rate
$289,738
Your Cash$75,262
Total Purchase Price:$365,000

Assumed vs Traditional Mortgage

Assumed @ 3.06%
$1,310/mo
Traditional @ 7.15%
$2,160/mo
You save $850/month ($10,202/year)

*Secondary financing rates are an estimated value based on input

MLS ID: 6667757

Listing From: Arizona Regional Multiple Listing Service (ARMLS)

Last updated: Apr 26, 2024 08:10am

© 2025, Arizona Regional Multiple Listing Service (ARMLS). All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

3.06%
7.15%

Principal & Interest

$1,310 /mo
$2,082 /mo
$35,451 in interest paid off
Inquire about this property
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​
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We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $75,262 (21%)
You can enter any amount below - secondary financing will cover the difference if needed.
21%
$
0%20%50%

You cover the entire equity of $75,262!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.06% Sellers Rate
$289,738
Your Cash$75,262
Total Purchase Price:$365,000

Assumed vs Traditional Mortgage

Assumed @ 3.06%
$1,310/mo
Traditional @ 7.15%
$2,160/mo
You save $850/month ($10,202/year)

*Secondary financing rates are an estimated value based on input

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May, 17 2025

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