The Ultimate Guide to Assumable Home Loans in Phoenix, Arizona

Lower your cost of ownership by taking over a seller’s mortgage—often at a rate far below today’s. Learn how FHA and VA assumptions work, who qualifies, what it costs, the timeline, and where to find homes with assumable loans in Phoenix.

By Jonathan Baer • Updated October 2025

What is an Assumable Loan?

An assumable mortgage allows a buyer to step into the seller’s loan at the existing interest rate and remaining term. This can mean big savings if today’s rates are much higher than when the seller locked in. The buyer pays the seller for their equity or covers the difference with secondary financing.

Conventional loans typically are not assumable. FHA and VA loans are the main types available in Arizona.

Why They Matter in Today’s Market

Buyer Benefits

  • Take advantage of lower interest rates locked years ago.
  • Save hundreds per month compared to market rates.
  • Reduced closing costs versus new financing.

Seller Benefits

  • Attract buyers with below-market financing.
  • Differentiate your listing in a competitive market.
  • Potentially negotiate stronger offers.

FHA vs. VA Loan Assumptions

FHA

  • Buyer must fully qualify with credit, income, and debt ratios.
  • Servicers charge a small assumption fee.
  • Seller is usually released from liability once the assumption is approved.

VA

  • Veterans and non-veterans may assume with VA and lender approval.
  • Entitlement rules apply—veterans may restore their entitlement if another veteran assumes.
  • Funding fee treatment differs from new VA loans; confirm with the lender.

Qualifying & Costs

  • Standard lender checks: employment, income, credit, and debt ratios.
  • Closing costs are generally lower than new loans.
  • The buyer must cover the seller’s equity, often with cash or a second loan.

Step-by-Step Process

  1. Confirm the loan is assumable and request the servicer’s packet.
  2. Negotiate and sign a purchase contract specifying assumption terms.
  3. Submit documentation to the servicer for underwriting review.
  4. Clear title and HOA obligations.
  5. Close once servicer approval is issued and the loan transfers.

Timelines depend on the servicer. Plan for extra time and close communication between all parties.

Example of Potential Savings

Buying a $500,000 Phoenix home with a $350,000 assumable FHA loan at 3% (vs. a new loan at 7%) could save nearly $670 per month in principal and interest.

Phoenix Market Tips

  • Look for homes purchased between 2020–2022, when rates were historically low.
  • Well-priced assumptions move quickly—be prepared to act fast.
  • Equity gaps are common—have financing or cash ready.

FAQs

Are assumable loans available in Arizona?

Yes. FHA and VA loans remain assumable with lender approval.

Can non-veterans assume VA loans?

Yes, in many cases. The seller’s entitlement may remain tied up unless the buyer is a veteran who can substitute their entitlement.

How do I qualify for an FHA assumption?

You must meet lender guidelines just like a new FHA loan—credit, income, and DTI requirements.

Where can I find assumable listings in Phoenix?

Through local market reports, MLS searches, and by working with an agent experienced in assumptions.

Get Help with Assumable Loans

Have a home to sell with a great rate—or want a custom list of Phoenix homes with FHA/VA assumable loans? I can help.

No-pressure consultation. Local expertise. Clear guidance.

Talk with Jonathan

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© Dominion Group Properties • Phoenix, Arizona

Homes with Assumable Home Loans

$439,000
4 Beds ⋅ 2 Baths ⋅ 7078808 MLS ⋅ 1,789 SqFt.
Well maintained 4-bed, 2 bath home with 2 car garage, nestled in Goodyear's prominent Canyon Trails community. Elegant open-concept floor plan showcases updated wood-look plank tile flooring, a kitchen that's and clean bright, designed thoughtfully with Quartz countertops, complementing tile backsplash, stainless steel appliances, and bold island. Windows are enclosed by premium Plantation shutters throughout in addition to ceiling fans. Specious custom streamless shower design and dual vanity in master bathroom. Your primary bedroom suite cozies up to the sleek built-in electric fireplace. The rear patio edges out to a versatile backyard space with turf, lush citrus trees, and firepit for gatherings adorned with warm lighting + your very own private basketball or pickleball court. New A/C System in 2025. Pride of ownership is apparent. Great location, near gyms, schools, shopping, dining and in convenient proximity to freeways.

16551 W Jackson Street, Goodyear
$390,000
3 Beds ⋅ 3 Baths ⋅ 7078639 MLS ⋅ 1,841 SqFt.
Beautifully updated 3BR+/2.5BA, 1,841 SF home on a .291-acre lot in Pueblo del Sol Country Club Estates! Natural light fills the inviting living room w/stone-accented gas fireplace. Gorgeous kitchen features wood accent wall, dining area, Corian counters, painted cabinetry, breakfast bar, abundant storage, stainless appliances w/gas range & tile floors. Bonus sitting room w/wood accent wall plus guest half bath. Spacious downstairs primary suite has bay window, barn-door entry to ensuite bath w/twin vanity, tiled soaking tub/shower & large walk-in closet. Upstairs offers 2 bedrooms w/walk-in closets, full guest bath & linen storage. Large block-walled backyard outdoor space features covered patio w/added shade, shed, raised garden, dog house & double gate. 2-car garage. Close to downtown.

3626 Snead Drive, Sierra Vista
$445,000
3 Beds ⋅ 2 Baths ⋅ 7078620 MLS ⋅ 1,567 SqFt.
With rates today sitting in the high 6s, this home comes with a rare opportunity, an assumable loan at 4.99%. On a $445K home, that's about $500 a month in savings compared to today's rates. Over $6,000 a year and $180,000 across the life of the loan, that's life changing money staying in your pocket. This beautiful open floor plan home offers 3 bedrooms, 2 bathrooms, and a 2 car garage. Built in 2022 by Meritage Homes. North south facing. Located in the heart of Laveen, close to the Loop 202, shopping, PHX Sky Harbor Airport, schools, and everything Phoenix has for entertainment. Opportunities like this don't come around often. Reach out today to learn more about assuming this rate. Tour today!

6738 W Valley View Drive, Laveen
$445,000
3 Beds ⋅ 2 Baths ⋅ 7078157 MLS ⋅ 1,530 SqFt.
A truly charming townhome in the heart of the Biltmore Corridor! This 3 bedroom, 2 bath home offers a thoughtfully designed living space. Inside, enjoy an open concept layout with a spacious living room, dinette area, and beautiful kitchen featuring white cabinets, stainless steel appliances, pantry, and island seating. The primary suite offers an en-suite bath with dual vanities, walk-in shower, and soaking tub. Step onto the private balcony for morning coffee, then enjoy the heated pool, spa, and BBQ areas. Plus, shopping, dining, and major freeways are all nearby!

5550 N 16th Street Unit 155, Phoenix
$570,000
4 Beds ⋅ 3 Baths ⋅ 7078011 MLS ⋅ 2,229 SqFt.
This is THE ONE! This 2023 home isn't just like-new, it has the kind of charm and character that sets it apart from everything else on the market. The sellers styled it beautifully: designer-inspired accent walls, modern paint in warm tones, updated light fixtures, and new wood-look tile throughout with fresh carpet in the bedrooms. Simply add a door to the current flex space for an easy 4th bedroom, or keep it as a playroom or office, it already has a closet for extra storage. And the upgrades that matter go beyond looks: 10 foot ceilings, double glass sliding door, top-of-the-line GE Café appliances, quartz countertops, reverse osmosis, oversized island, and a gourmet kitchen setup with a hood, cooktop, built-in oven and more. Step outside to a fully landscaped backyard built for entertaining. Featuring an extended covered patio, oversized pavers with a luxury feel, sun shades, a built-in gas fire pit, a rare magnolia tree, storage shed and a generous grassy area. The temperature-controlled 3-car tandem garage comes with extra insulation, ample built-in storage cabinets and overhead storage with epoxy floors to create your home gym, workshop or to store all your toys. The location genuinely can't be beat with The Four Corners and all that Peoria has to offer just 10 minutes east of you and Asante in Surprise about 5 minutes west. Your front door is just steps from a community greenbelt and playground that basically functions as an extension of your own backyard. This single-level-only community means no two-story neighbors blocking your view, just open sky and desert mountain views in every direction. Built for community and connection, the neighborhood offers walking and biking paths, playgrounds, basketball courts, and volleyball courts around nearly every corner. VA-eligible buyers: ask your agent about assuming the seller's VA loan for a payment that beats today's market at a 5.75% rate. Welcome home.

14178 W Calle Lejos --, Surprise
$349,000
5 Beds ⋅ 2 Baths ⋅ 7077591 MLS ⋅ 1,935 SqFt.
Built in 2022, this spacious 1,914-square-foot Maricopa home offers four bedrooms, an enclosed den or bonus room that can function as a fifth bedroom, two bathrooms, and a two-car garage. The open great-room floor plan is enhanced by 9-foot ceilings and 8-foot interior doors, creating a bright and comfortable living space ideal for everyday living and entertaining. The kitchen features granite countertops, white shaker cabinets, stainless steel appliances, a tile backsplash, and generous workspace. The primary bathroom includes dual sinks and a raised vanity, while two-inch faux-wood blinds and smart-home security add convenience throughout. A stylish barn door provides privacy for the versatile bonus room, making it suitable for guests, a home office, or a playroom. Outside, enjoy a low-maintenance backyard along with convenient access to community parks, walking paths, shopping, dining, and local conveniences.

36284 W San Clemente Avenue, Maricopa
$409,990
4 Beds ⋅ 3 Baths ⋅ 7077557 MLS ⋅ 1,854 SqFt.
Welcome to 23934 W Verlea Dr in Desert Moon Estates! This updated single-story home offers 4 bedrooms and an open, functional layout with upgraded tile flooring throughout. The kitchen features bold black cabinetry, stainless steel appliances, a spacious island, and plenty of room to gather. The primary suite includes a walk-in closet and private bath. Outside, enjoy an extended paver patio, custom gazebo, artificial turf, storage shed, and RV gate. Qualified buyers may have the opportunity to assume the existing FHA loan at a 4.99% interest rate, subject to lender approval. Grant funding may also be available through a preferred lender. Conveniently located near I-10, shopping, dining, and schools.

23934 W Verlea Drive, Buckeye
$1,275,000
5 Beds ⋅ 4 Baths ⋅ 7077269 MLS ⋅ 4,007 SqFt.
Rare opportunity to experience elevated desert mountain living with breathtaking panoramic views and enjoy a LOAN ASSUMPTION OPTION AT 3.75%. Step through a custom wood entry door to soaring 12ft ceilings, lighted art niches, hickory & slate tile flooring and open indoor living spaces flowing seamlessly into a backyard retreat - signature features of a quality TW Lewis home. This FULLY FURNISHED 4,000 + sq ft home features 5 spacious bedrooms, 4 bathrooms with an open great room floorplan AND extended length/height 3 car garage. Mother-in-law suite or welcome guests into a private bedroom with ensuite bath. Outdoors, a negative infinity-edge pool, spa, built-in BBQ & multiple entertaining spaces overlooking panoramic views of Westwing & Sunrise Mountains delivering unforgettable sunsets. Minutes from top rated schools, shopping, restaurants & some of the best AZmountain hiking trails! Again, all furnishings convey except for a few personal items. Furniture is less than 2 years old. Many newer features and improvements since 2023 including a complete roof replacement in 2026, irrigation system replaced with PVC, complete interior paint, interior plumbing upgrades, remote controlled blinds in Primary and Family Room, partial pool remodel including many Smart features controlled by phone app and much more. For a complete list of most recent improvements by the current owners, see the documents tab.

27562 N 83rd Glen, Peoria
$295,000
2 Beds ⋅ 2 Baths ⋅ 7077124 MLS ⋅ 964 SqFt.
ASSUMABLE FHA LOAN AT 2.375%! 🔥 Buyers -- don't miss this opportunity to take over a low-rate loan and potentially save hundreds each month! Welcome home to this charming 2-bedroom, 2-bathroom property in a highly desirable Mesa community! Step inside to vaulted ceilings and an abundance of natural light, creating a bright and open feel throughout. The kitchen features freshly painted white cabinetry with updated hardware, new garbage disposal, new dishwasher, all giving the space a clean, refreshed look. The spacious primary suite includes an updated walk-in shower, while a full-size laundry closet adds everyday convenience. Outside, enjoy a spacious private backyard with plenty of room to relax, entertain, or create your own outdoor retreat. Location is a major highlight--just 3 minutes from US-60 for easy access throughout the Valley and approximately 12 minutes from Downtown Gilbert where you'll find an incredible selection of restaurants, nightlife, shopping, entertainment, and community events. A fantastic opportunity for a primary residence, seasonal home, or investment property in a convenient East Valley location!

2455 E Broadway Road Unit 59, Mesa
$389,000
5 Beds ⋅ 4 Baths ⋅ 7077031 MLS ⋅ 2,909 SqFt.
This 2018 home offers exceptional value for the asking price; New carpet & freshly painted is this 5 bedrooms / 3.5 bathrooms home. Save BIG by assuming current loan at a rate of 3.75%. Property also offers leased solar energy; water filtering system; cozy main living room that leads to the spacious kitchen featuring lots of cabinet space, granite countertops and newer stainless steel appliances featuring a gas stove; main floor master bedroom affords privacy and practicality; large upstairs loft for entertainment; 4 spacious bedrooms with larger closets with 1 having its own bathroom! Plus, a clean big backyard waiting for your creative landscaping ideas to build your own oasis.

3061 N 301st Drive, Buckeye
$164,000
3 Beds ⋅ 2 Baths ⋅ 7076724 MLS ⋅ 1,318 SqFt.
Welcome to 123 E Apache St, a beautifully refreshed 3-bed, 2-bath home in Huachuca City with 1,318 sq ft on a 6,500 sq ft lot. Priced well below comparable homes in the area, this property offers exceptional value. Just 9 minutes from the Van Deman Gate of Fort Huachuca, it offers an easy commute onto post. Recent updates include brand new carpet in all bedrooms and fresh paint on the walls and ceilings. The master bedroom features a brand new mini split system for efficient heating and cooling. With its updates, competitive price, and convenient location, this home is a fantastic opportunity for buyers seeking an affordable property. Also listed as a rental property for $1325 per month, in ''Also listed on''. The seller is a licensed real estate agent in the State of Arizona. Owner/Agent.

123 E Apache Street, Huachuca City
$479,000
2 Beds ⋅ 2 Baths ⋅ 7076478 MLS ⋅ 1,577 SqFt.
Perfectly positioned within walking distance to the vibrant shopping, dining, and entertainment of Desert Ridge and CityNorth, this beautifully appointed 2-bedroom, 2-bath condo with a versatile den offers the ideal blend of convenience and comfort.Designed with an open-concept layout, the home features a spacious great room, elegant granite countertops, and seamless flow-perfect for both everyday living and entertaining. The den provides flexibility for a home office, media room, or additional guest space. This residence includes two assigned garage parking spaces along with additional storage, offering both ease and functionality. Located in desirable Building 10, the property allows short-term rentals with a 30-day minimum, presenting an excellent opportunity for both full-time living

5450 E Deer Valley Drive Unit 1193, Phoenix
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