Properties / 16259 W CORTEZ Street
VA ASSUMABLERate: 2.94%

16259 W CORTEZ Street

$600,000
Surprise, AZ 85379
4 beds3 baths2,922 sqftSingle Family
The assumable advantage
2.94%
VA assumed rate
$58,660 interest already paid off
Estimated Loan Balance$324,909
Cash to close$277,353
Est. Monthly PITI$1,900
Initial Loan Amount$370,056
Time on site50 days
Remaining Term24 years, 3 months
Seller's equity (what you pay)
$275,091
Cash or secondary financing
Monthly savings
$1,975
Versus today's market rate
Est. savings per year
$24K
Versus today's market rate

About this home

Spacious and thoughtfully designed, this Surprise home offers comfortable indoor-outdoor living. The open layout features a large great room, formal dining area, dedicated office, and beautiful kitchen with granite countertops, large island, abundant cabinetry, and stainless steel appliances. The primary suite includes a walk-in closet and private bath, while additional bedrooms offer flexibility for guests, hobbies, or work-from-home needs. Outside, enjoy a covered patio, paver entertaining area, expansive grass backyard, and paved side yard/outside parking from side to back. Additional highlights include a 3-car garage with built-in storage, built-in 7-speaker system, camera sensors, newer HVAC system (one unit replaced), newer water heater, and newer garage door.

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 $275,091. 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

Bedrooms4
Bathrooms3
Square feet2,922
Property typeSingle Family
MLS #7044402
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)
$1,563/mo
Source est. payment (PITI)
$1,900/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$275,091

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

$0$275,091
Additional funds needed$0

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