Properties / 4116 E CATHY Drive
FHA ASSUMABLERate: 2.84%

4116 E CATHY Drive

$460,000
Gilbert, AZ 85296
3 beds2 baths1,837 sqftSingle Family
The assumable advantage
2.84%
FHA assumed rate
$29,834 interest already paid off
Estimated Loan Balance$205,666
Cash to close$255,257
Est. Monthly PITI$1,412
Initial Loan Amount$229,400
Time on site45 days
Remaining Term25 years, 2 months
Seller's equity (what you pay)
$254,334
Cash or secondary financing
Monthly savings
$1,759
Versus today's market rate
Est. savings per year
$21K
Versus today's market rate

About this home

Location, Location, Location!! Situated on an interior lot in the highly sought after area of Gilbert, you will find this spectacular 3 bedroom, 2 bath, home in Copper Ranch! With a spacious layout, the great room & dining room combo flows into the kitchen, just perfect for entertaining. Kitchen features a oversized breakfast bar, stainless steel appliances, glass top range, microwave & tons of maple wood cabinetry with Sable finish. Spacious flex room could be formal dining, office or game room. Home has solar which helps reduces monthly AC bills. Blinds and ceiling fans t/o. Spacious Master features private en-suite with dual sinks, spacious walk-in shower, large closet plus 2 linen closets. Freshly painted inside and outside. Inside laundry room and tons of storage t/o this beautiful home! Low maintenance landscaping with a desert front yard courtyard and a paver backyard patio area for additional entertaining. Simply a hidden gem! Located near several schools. Just minutes to the loop 202, downtown Gilbert, San Tan Village Mall, Cooley Station, restaurants and so much more. Don't miss this one!

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 $254,334. 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

Bedrooms3
Bathrooms2
Square feet1,837
Property typeSingle Family
MLS #7048176
CountyMaricopa County
Assumable loanFHA
Tour this home
In person or virtual.
Prefer virtual tour?
Free · No commitment · Typical reply in 15 min
Investor?
FHA is primary-residence only. But Jeff has VA assumables in the same area.
Jeff Salazar
Active now · (602) 332-3860
Call

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)
$954/mo
Source est. payment (PITI)
$1,412/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$254,334

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

$0$254,334
Additional funds needed$0

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