Properties / 3160 E Main Street E
FHA ASSUMABLERate: 3.07%

3160 E Main Street E

$220,000
Mesa, AZ 85213
2 beds2 baths938 sqftSingle Family
The assumable advantage
3.07%
FHA assumed rate
$22,449 interest already paid off
Estimated Loan Balance$148,001
Cash to close$74,190
Est. Monthly PITI$985
Initial Loan Amount$162,011
Time on site50 days
Remaining Term25 years, 4 months
Seller's equity (what you pay)
$71,999
Cash or secondary financing
Monthly savings
$596
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

Beautiful and well-kept home on a quiet 55+community. The community includes a recreational center with lots of activities. The house also includes an Arizona room with windows around it to see and enjoy the beautiful Arizona evenings. It has an additional small room inside the house and another room (attached to the house) with an outside entrance that can be used as a hobby room or storage. The Home it's bigger than the SF. reported. You OWN THE LAND

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 $71,999. 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

Bedrooms2
Bathrooms2
Square feet938
Property typeSingle Family
MLS #6974237
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)
$701/mo
Source est. payment (PITI)
$985/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$71,999

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

$0$71,999
Additional funds needed$0

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