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

$385,000
3 Beds ⋅ 2 Baths ⋅ 7058568 MLS ⋅ 1,600 SqFt.
Assumable 2.25% VA loan available for qualified buyers. This move-in ready home features soaring vaulted ceilings and a desirable split floor plan that create an open and inviting feel. The updated kitchen, new living room flooring, and new ceiling fans provide a fresh, modern look. The living room flooring is backed by a lifetime manufacturer warranty. Additional improvements include new attic insulation and solar-powered attic ventilation fans for added energy efficiency and a new dishwasher. Washer, dryer & refrigerator all convey. Enjoy the covered patio and low-maintenance turf backyard. Conveniently located near Loop 303, the Village at Prasada, shopping, dining, Surprise Stadium, and Luke AFB.

13201 W Mauna Loa Lane, Surprise
$459,000
5 Beds ⋅ 3 Baths ⋅ 7058424 MLS ⋅ 1,949 SqFt.
This well-maintained two-story residence is the one. Solar paid in full, Kitchen renovated 2026 & new roof. The living room flows effortlessly into the dining area & kitchen. Updated lighting, a pantry, SS appliances, tile backsplash, white cabinets, & updated counters make this lovely kitchen a cook's delight. Located on the main level, a powder room adds extra convenience. Continue onto the large primary bedroom, offering plush carpet, tons of natural light, a private bathroom w/a make-up desk, & a walk-in closet. Be amazed by the oversized backyard highlighted by a covered patio, pergola, storage shed, basketball court, & a Pebble tec swimming pool w/ New Valves. PLUS! Enjoy the added value of a new roof & paid-off solar panels, for enhanced energy efficiency and long-term savings.

12965 W Via Camille --, El Mirage
$615,000
4 Beds ⋅ 2 Baths ⋅ 7058334 MLS ⋅ 1,896 SqFt.

4586 Peleus Road, Bellemont
$405,000
3 Beds ⋅ 2 Baths ⋅ 7058177 MLS ⋅ 1,352 SqFt.
Are you the buyer to leverage this discounted property and make is shine again? Several pictures from 2016 show property's potential. This home just needs fresh paint, cleaning and a few minor repairs. VA buyers can fully assume the $312K remaining loan at 2.99%. This 3BR/2BA single-level home in highly desirable Ahwatukee & located in the top-rated Kyrene School District ! Open floorplan eliminates hallways to maximize space, featuring a private split-bedroom layout and soaring vaulted ceilings. Tile is beige brown color in main areas which is perfect for todays brown schemes. Large back yard with extensive covered patio and Saltillo tile, perfect for outdoor entertaining with flagstone leading up to a beehive fireplace and built-in seating bench.

4340 E Amber Ridge Way, Phoenix
$840,000
4 Beds ⋅ 2 Baths ⋅ 7058029 MLS ⋅ 1,988 SqFt.
Nestled on a premium corner lot with breathtaking Red Rock views, this distinctive residence offers an exceptional blend of architectural character, thoughtful updates, and environmentally conscious design. A durable stone-coated reflective metal roof, energy-efficient window film, and skylights enhance both comfort and efficiency, while four bedrooms, a dedicated den, two bathrooms, no interior steps, and an impressive five-car garage--including a direct-entry three-car garage plus a separate lower-level two-car garage--make this home as functional as it is unique. Nearly $50,000 in recent improvements include fresh interior and exterior paint, luxury vinyl plank flooring throughout, remodeled primary and guest bathrooms, CAT 6 wiring, a new front door, custom courtyard gate, and new dishwasher, allowing the next owner to simply move in and enjoy. The gourmet kitchen is beautifully appointed with an exceptional suite of premium appliances, including Sub-Zero, Viking, Miele, Fisher & Paykel, and Thermador, along with an induction cooktop and custom bamboo cabinetry. A thoughtfully designed split floor plan offers both privacy and comfortable everyday living. Outdoor living is every bit as inviting as the interior. A charming front courtyard welcomes guests, while the covered patio with its cedar ceiling and eco-friendly bamboo deck frame spectacular Red Rock vistas. The heated saltwater pool with water features, artificial turf, and multiple outdoor living spaces create a private Arizona retreat perfect for relaxing or entertaining. Additional highlights include Hunter Douglas blinds throughout, abundant storage, and a rare combination of timeless character, modern updates, exceptional garage space, and sustainable design elements that make this Fountain Hills home truly one of a kind. Existing VA loan may be assumable, subject to lender approval. Buyer must qualify with the lender.

12243 N Twin Deer Run, Fountain Hills
$1,100,000
5 Beds ⋅ 4 Baths ⋅ 7057941 MLS ⋅ 3,205 SqFt.
Move-in READY! BRAND NEW Construction w/ Custom -Quality Upgrades throughout! This beautiful home is located in an AMAZING location with GUEST LIVING SUITE. Kitchen w/WOLF appliances, high end cabinets w/ 42' uppers, White Quartz Countertops, 36' Cooktop, Stainless drawer microwave, Steam oven & wood plank tile floors. Stunning Master Bathroom w/ Freestanding Soaking Tub, BEACH Entry Glass Shower & Double Vanities. Exceptional Energy Efficiency - boasting Spray Foam Insulation & Premium Trane AC Units. Superior Construction & Craftsmanship - Premium Roofing System, Premium Synthetic Stucco & so much MORE! Gorgeous Mountain Views! 1 ACRE Lot! NO HOA! Close to hiking and horseback riding trails! *Photos are virtually inspired*

20255 W Highland Avenue, Litchfield Park
$760,000
5 Beds ⋅ 4 Baths ⋅ 7057603 MLS ⋅ 2,721 SqFt.
PRICED TO SELL! Stunning Toll Brothers Penrose model in the award-winning, guard-gated Sterling Grove Golf & Country Club. Tandem 3 Car Garage - 5 Bedroom with Flex Space! Freshly painted interior with indoor/outdoor living spaces, chef's gourmet kitchen, and inviting great room featuring a beautiful stone gas fireplace. A flex space with climate-controlled mini-split offers the perfect home office, gym, playroom, or creative space. Enjoy Arizona living with a covered patio, built-in BBQ, and backyard playset. Resort amenities include a Jack Nicklaus championship golf course, pools, spa, fitness center, pickleball, tennis, clubhouse dining, walking trails, and social member events.

17190 W Gracemont Street, Surprise
$720,000
3 Beds ⋅ 3 Baths ⋅ 7057521 MLS ⋅ 2,558 SqFt.
Unmatched upgrades! The resort-style SALTWATER pool and spa paired with professional landscaping, creates a private backyard retreat. Outdoor entertaining is easy with a covered patio, pergola, outdoor kitchen, natural gas BBQ, and island, while a motorized shade adds comfort on sunny days. The backyard is finished with a hand-painted mural on the rear block wall, and the front entry includes a decorative fountain and front-yard flagpole mount for added curb appeal. Inside, custom upgrades continue. motorized shades, platation shutters, security screens on all exterior windows and doors, Energy upgrades include owned solar with an Enphase backup battery, a June 2025 electrical panel upgrade to support the solar system, whole-home water treatment & a new water heater July 2026.

12685 E Nandina Place, Gold Canyon
$339,990
4 Beds ⋅ 2 Baths ⋅ 7057052 MLS ⋅ 1,712 SqFt.
Assumable VA Loan 3.35% Well-maintained 4-bedroom, 2-bath home located in the Tartesso community of Buckeye. Built in 2019, this property offers a functional open floor plan with a spacious great room that flows into the kitchen and dining area. The kitchen features granite countertops, a center island with breakfast bar, gas range, and ample cabinetry. Additional interior features include ceiling fans, updated fixtures, and a security door. The home is equipped with a OWNED solar system, providing added energy efficiency. Community amenities include parks, walking trails, splash pads, sports courts, and a neighborhood school, all set against scenic desert and mountain views.

30904 W Fairmount Avenue, Buckeye
$1,149,000
4 Beds ⋅ 3 Baths ⋅ 7057001 MLS ⋅ 2,370 SqFt.
Welcome to this highly upgraded 4 bedroom, 3 Bath, 3-Car Garage home with a sparkling pool located in Central/North Scottsdale near the McDowell Mountain foothills. Nestled in one of Scottsdale's most sought-after neighborhoods, this beautifully updated single-level home offers the perfect combination of style, comfort, and convenience. Inside, you'll immediately notice the bright, open floor plan designed for everyday living and effortless entertaining. The remodeled kitchen is the heart of the home, featuring quartz countertops, updated cabinetry, stainless steel appliances, designer lighting, and an oversized island that opens seamlessly to the living and dining spaces. Thoughtful upgrades continue throughout the home, including luxury vinyl plank flooring throughout the entire home, plantation shutters, custom lighting, updated bathrooms, fresh interior paint, and a custom-designed walk-in closet in the spacious primary suite. The main living area is equipped with motorized roller shades, giving you the flexibility to enjoy abundant natural light or instant privacy with the touch of a button. The 2nd/3rd bedroom is connected by a jack & jill bath. Step outside to your own private backyard retreat where you'll find a sparkling PebbleTec pool, mature landscaping, and no neighbors directly behind, creating a peaceful setting to relax or entertain. Recent improvements include an outdoor roller shade to enhance the covered patio, added sun screens for improved energy efficiency, and freshly painted perimeter walls that give the backyard a crisp, finished appearance. Move-in ready and meticulously maintained, this home combines quality upgrades with an unbeatable Scottsdale location. Located just minutes from Scottsdale Quarter, Kierland Commons, Desert Ridge Marketplace, Loop 101, world-class golf, dining, and top-rated schools, you'll enjoy everything Scottsdale living has to offer.

14434 N 98th Place, Scottsdale
$425,000
4 Beds ⋅ 3 Baths ⋅ 7056670 MLS ⋅ 2,379 SqFt.
ASSUMABLE MORTGAGE AT 2.586%!!!! Set against the scenic backdrop of the White Tank Mountains, this spacious Cortessa home offers a flexible floor plan, fresh updates, and comfortable indoor-outdoor living. The interior has been freshly painted, newly carpeted, and professionally deep cleaned, making it truly move-in ready. The main level features two separate living areas, including a formal living room with an adjoining dining area, as well as a bedroom with a walk-in closet--ideal for guests or a home office. The kitchen also includes a casual eat-in area for everyday dining. Upstairs, a spacious loft provides additional room for a media area, playroom, or home workspace. The primary suite and remaining bedrooms are also located upstairs, and every bedroom includes a walk-in closet for plenty of storage. Outside, the front and backyards feature low-maintenance turf and gravel landscaping. A large covered patio spans the width of the home, creating a shaded space for relaxing or entertaining, while mature trees provide added beauty and privacy. Located in the desirable Cortessa community, this home offers a peaceful setting away from the city's hustle and bustle while remaining convenient to tons of shopping, dining, and entertainment. Highly rated public and charter schools are also located nearby.

18528 W Eva Street, Waddell
$539,000
5 Beds ⋅ 4 Baths ⋅ 7056135 MLS ⋅ 2,902 SqFt.
Welcome to this beautifully upgraded 5-bedroom, 3-bath home offering 3,348 square feet of spacious living. The kitchen features modern smart appliances, while upstairs and downstairs theater areas include surround sound for an enhanced entertainment experience. Recent improvements include a remodeled downstairs bathroom, an HVAC system replaced in 2023, and a newer water softener. Enjoy a resort-style backyard with a sparkling pool and tranquil waterfall. The extended three-car garage provides extra room for trucks, toys, or workshop space, while the extra-long driveway offers ample parking. Tesla-leased solar panels and custom sunscreens on every window provide added energy efficiency. This exceptional home is ready for its next owner!

11566 W Cocopah Street, Avondale
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