Properties / 3224 W ECHO Lane
FHA ASSUMABLERate: 6.08%

3224 W ECHO Lane

$230,000
Phoenix, AZ 85051
2 beds2 baths1,536 sqftSingle Family
The assumable advantage
6.08%
FHA assumed rate
$1,281 interest already paid off
Estimated Loan Balance$11,935
Cash to close$218,078
Est. Monthly PITI$265
Initial Loan Amount$12,159
Time on site18 days
Remaining Term28 years, 4 months
Seller's equity (what you pay)
$218,065
Cash or secondary financing
Monthly savings
$1,282
Versus today's market rate
Est. savings per year
$15K
Versus today's market rate

About this home

Welcome to this charming Phoenix townhome featuring a bright, functional interior with white finishes, tile flooring throughout the main living areas, and an open layout connecting the living, dining, and kitchen spaces. The kitchen offers ample cabinetry and generous counter space. The spacious living area features plenty of natural light, while the bedrooms offer comfortable space and ceiling fans. Enjoy a private covered patio with additional outdoor space, perfect for relaxing or entertaining. Convenient assigned covered parking.

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 $218,065. 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 feet1,536
Property typeSingle Family
MLS #7070629
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)
$74/mo
Source est. payment (PITI)
$265/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$218,065

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

$0$218,065
Additional funds needed$0

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