Properties / 2614 E MEGAN Street
FHA ASSUMABLERate: 2.83%

2614 E MEGAN Street

$390,000
Gilbert, AZ 85295
2 beds3 baths1,460 sqftSingle Family
The assumable advantage
2.83%
FHA assumed rate
$42,352 interest already paid off
Estimated Loan Balance$244,575
Cash to close$147,711
Est. Monthly PITI$1,603
Initial Loan Amount$277,874
Time on site50 days
Remaining Term24 years, 4 months
Seller's equity (what you pay)
$145,425
Cash or secondary financing
Monthly savings
$1,140
Versus today's market rate
Est. savings per year
$14K
Versus today's market rate

About this home

Stunning home boasts a spacious open floor plan with stainless steel appliances, eat in kitchen, and ceiling fans in all the right places. The living and dining area is light and bright from all the windows! The loft includes an office area. Huge primary bedroom with walk in closet. The second bedroom includes its own private bathroom. The home offers a prestigious Gilbert location, plenty of recreation including pools and parks and convenient access to the freeways. Close to San Tan Village for shopping and dining. Front yard maintenance is included. Very low backyard maintenance . This is a well cared home in a great community. Don't Miss Out!

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 $145,425. 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
Bathrooms3
Square feet1,460
Property typeSingle Family
MLS #7016338
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)
$1,160/mo
Source est. payment (PITI)
$1,603/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$145,425

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

$0$145,425
Additional funds needed$0

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