Properties / 2944 E Megan Street
FHA ASSUMABLERate: 4.23%

2944 E Megan Street

$425,000
Gilbert, AZ 85295
3 beds3 baths1,748 sqftSingle Family
The assumable advantage
4.23%
FHA assumed rate
$27,046 interest already paid off
Estimated Loan Balance$42,480
Cash to close$382,655
Est. Monthly PITI$603
Initial Loan Amount$58,037
Time on site30 days
Remaining Term17 years, 6 months
Seller's equity (what you pay)
$382,520
Cash or secondary financing
Monthly savings
$2,219
Versus today's market rate
Est. savings per year
$27K
Versus today's market rate

About this home

Cute and clean home located in a prime central Gilbert location! This beautifully refreshed home features 3 bedrooms, 2.5 baths, new flooring, and fresh interior paint. Neutral colors and modern finishes create a clean and inviting feel throughout. The thoughtfully designed floor plan offers comfortable living spaces with plenty of natural light and a versatile layout. Enjoy the convenience of being located near some of Gilbert's best restaurants, shopping, entertainment, and everyday amenities. Whether you're looking for a stylish place to make your home or a great location close to everything Gilbert has to offer, this home is a must-see. Fresh, clean, and ready for its next owner!

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 $382,520. 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
Bathrooms3
Square feet1,748
Property typeSingle Family
MLS #7065345
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)
$287/mo
Source est. payment (PITI)
$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$382,520

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

$0$382,520
Additional funds needed$0

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