Properties / 3520 E MORRISON RANCH Parkway
FHA ASSUMABLERate: 5.25%

3520 E MORRISON RANCH Parkway

$729,000
Gilbert, AZ 85296
3 beds2 baths2,305 sqftSingle Family
The assumable advantage
5.25%
FHA assumed rate
$196,516 interest already paid off
Estimated Loan Balance$164,096
Cash to close$564,178
Est. Monthly PITI$2,115
Initial Loan Amount$262,064
Time on site0 days
Remaining Term13 years, 1 month
Seller's equity (what you pay)
$564,904
Cash or secondary financing
Monthly savings
$2,852
Versus today's market rate
Est. savings per year
$34K
Versus today's market rate

About this home

Welcome to Morrison Ranch! This popular, open and bright floor plan features three full bedrooms plus a flex space ideal for a playroom or office. The kitchen offers granite countertops, stainless-steel appliances, tile backsplash, upgraded cabinetry, and a walk-in pantry. Additional highlights include upgraded bathrooms, shutters, crown molding and new windows in select areas. Upgraded flex-space tile, whole house filtration system, under-sink reverse osmosis, 5 year-old HVAC system and 2 year-old water heater. Enjoy your private backyard oasis with a gorgeous heated play pool and waterfall, custom putting area with Forever Green turf, custom pavers, above-ground hot tub, and mature landscaping. Don't miss this turnkey opportunity in Morrison Ranch! Must see in person to appreciate.

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 $564,904. 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 feet2,305
Property typeSingle Family
MLS #7079588
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)
$1,447/mo
Source est. payment (PITI)
$2,115/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$564,904

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

$0$564,904
Additional funds needed$0

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