1307 N 44TH Street
Phoenix, AZ 85008Get directions
- 3 beds
- 3 baths
- 1,584 sqft
- Est. loan balance
- $220,939
- Cash to close
- $109,061
- Est. monthly PITI
- $1,453/mo
- Original loan amount
- $248,417
- Time on site
- a month
- Remaining term
- 24 years, 10 months
Monthly Payment Guide
Estimated monthly payment
vs. $2,197/mo with a new loan at 7.280% today
- P&I – first mortgage$1,050
- FHA mortgage insurance$176
- Property taxes$77
- Homeowners insurance$150
- HOA$282
- Second mortgage
- None
You’re covering the seller’s full equity in cash.
- P&I – first mortgageThe FHA loan you take over, at 3.020% with 24 years, 10 months left
- $1,050
- P&I – second mortgageNone. You’re paying the seller’s equity in cash
- $0
- FHA mortgage insuranceFrom the loan’s records
- $176
- Property taxes$927 a year, from tax records
- $77
- Homeowners insuranceTypical cost for a home at this price
- $150
- HOAPer the listing
- $282
Monthly costs only. Your down payment and closing costs are paid once, at closing, and aren’t part of this number.
Step 1: What the seller is owed
You take over the seller’s loan, but it doesn’t cover the whole price. The rest is the , and it’s paid at closing.
List price
$330,000
What the home costs
Loan you take over
$220,939
Est. still owed · 3.020% FHA
Seller’s equity
$109,061
33% of the price
Step 2: How you pay it
With your cash, plus a for part of it if you’d rather bring less.
Your cash
$109,061
33% of the price, paid at closing
Second mortgage
$0
None at this amount
Seller’s equity
$109,061
Paid in full at closing
Want to keep more cash? Slide your cash down to as little as 5% ($17,061) and a second mortgage covers the rest.
Closing costs are extra. Your down payment isn’t all the cash you’ll need. Assumption, title and escrow fees, plus prepaid taxes and insurance, are due at closing too. We’ll estimate them with you.
| Monthly cost | Take over | New loan |
|---|---|---|
| P&I – first mortgage | $1,050 | $1,512 |
| FHA mortgage insurance | $176 | $176 |
| Property taxes | $77 | $77 |
| Homeowners insurance | $150 | $150 |
| HOA | $282 | $282 |
| Total monthly payment | $1,735 | $2,197 |
What that adds up to
- First year
- $0
- First 5 years
- $0
- Until it’s paid off
- $0
You don’t start over. The loan you take over has 24 years, 10 months left to pay, not a fresh 30 years.
A fair comparison. Both options borrow the same $220,939 and carry the same mortgage insurance, property taxes, homeowners insurance, and HOA, so the only difference is the loan.
- Assumable loan
- A loan you can take over from the seller. You keep its 3.020% rate and the balance left on it instead of getting a new loan at today’s rates.
- Seller’s equity
- The part of the price the loan doesn’t cover: the $330,000 price minus the $220,939 still owed. You pay it to the seller at closing.
- Down payment
- The cash you bring toward the seller’s equity. It has to be at least 5% of the price when a second mortgage covers the rest.
- Second mortgage
- A second, smaller loan that pays part of the seller’s equity so you bring less cash. Each month you pay only its interest.
- Blended rate
- The average rate across both loans, weighted by how much each one borrows. It’s the fair number to compare with a new loan.
- Principal & interest (P&I)
- Principal pays back what was borrowed. Interest is what the lender charges for it. Together they make up the loan payment.
- FHA mortgage insurance
- A monthly charge that comes with FHA loans. It stays with the loan when you take it over.
- Closing costs
- One-time fees to finish the purchase, like assumption, title and escrow fees, plus prepaid taxes and insurance. They’re on top of your down payment.
Where the numbers come from
The loan you take over
We estimate what’s left on the seller’s FHA loan ($220,939) from the original $248,417 loan, its 3.020% rate and its start date. Its principal and interest, $1,050/mo, carry over to you.
The second mortgage
Its rate follows today’s 7.000% prime rate and drops from 10% down. Seconds start at $25,000, so a smaller remainder comes from you in cash.
Taxes, insurance & HOA
We add taxes from the property’s tax records, homeowners insurance at a typical rate for the price, mortgage insurance from the loan’s records, and HOA dues as listed on the MLS. These are the same however you finance the home.
The comparison
A new 30-year fixed loan at today’s 7.280% average rate on the same amount you’d finance, with the same mortgage insurance, property taxes, homeowners insurance, and HOA, so the difference is just the loan.
Estimates for illustration, not a loan offer. Closing costs are extra. The real numbers depend on the loan, the servicer and your qualification, and we confirm all three before you make an offer.
Could this payment be yours?
See if you qualify. No hard credit pull to start.
- Assumed rate
- 3.02%
7.28%new loan- Principal & interest
- $1,050/mo
$1,512/mo new loan
- Cash to close
- $109,061
- Est. with taxes, insurance & HOA
- $1,735/mo
No hard credit pull
About this home
- DINING
- WALK-IN CLOSET
- PATIO
- COZY
- On UMe
- A month
- Property type
- Residential
- Year built
- 1966
- Living area
- 1,584 sqft
- Price per sqft
- $208
- Monthly taxes
- $77
Listed by Dustin Lopez Fernandez, Pak Home Realty
Facts & features
- MLS ID
- 7071011
- Source
- Arizona Regional MLS (ARMLS)
- Last updated
- 2026-10-06T17:37:16.000Z
Listing information is deemed reliable but not guaranteed. All measurements and calculations are approximate. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is courtesy of Arizona Regional Multiple Listing Service, Inc. (ARMLS) and is updated periodically.
Listing courtesy of Pak Home Realty via Arizona Regional MLS (ARMLS). Information should be verified with the listing broker.
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