Properties / 6735 E MELROSE Street
VA ASSUMABLERate: 2.81%

6735 E MELROSE Street

$397,900
Mesa, AZ 85215
2 beds2 baths1,250 sqftSingle Family
The assumable advantage
2.81%
VA assumed rate
$38,849 interest already paid off
Estimated Loan Balance$243,965
Cash to close$155,060
Est. Monthly PITI$1,392
Initial Loan Amount$275,370
Time on site50 days
Remaining Term24 years, 9 months
Seller's equity (what you pay)
$153,935
Cash or secondary financing
Monthly savings
$1,206
Versus today's market rate
Est. savings per year
$14K
Versus today's market rate

About this home

How soon can you move in? Homes in this neighborhood sell quickly, so don't miss this fabulous 2-bedroom, 2-bath split floor plan. Features include neutral tones, ceiling fans throughout, tile flooring, an eat-in kitchen with space for dining in the great room, and a bonus/game room. Newer 2023 stainless steel kitchen appliances are included, and the washer and dryer stay. The beautifully landscaped backyard offers low-maintenance synthetic grass. Enjoy convenient access to retail shops, restaurants, and the Loop 202, along with nearby outdoor recreation including an equestrian park, hiking, biking, and Saguaro and Canyon lakes. This home is move-in ready!

How assumption works for this home

Can I assume this VA loan?

Yes, as long as you meet the lender's credit (620+) and DTI requirements. You do NOT need to be a veteran to assume a VA loan — this is a common misconception.

How much cash do I actually need?

You need to cover the seller's equity of $153,935. If you don't have that in cash, we can help structure secondary financing to cover the gap.

Can investors assume this one?

Yes — VA assumptions can be used for investment properties. You can rent this home out.

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 feet1,250
Property typeSingle Family
MLS #7047343
CountyMaricopa County
Assumable loanVA
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Investor?
This VA loan can be assumed and rented. Talk to Jeff about the ROI math.
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)
$1,141/mo
Source est. payment (PITI)
$1,392/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$153,935

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

$0$153,935
Additional funds needed$0

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