Properties / 1701 E Colter Street
VA ASSUMABLERate: 4.17%

1701 E Colter Street

$397,990
Phoenix, AZ 85016
2 beds2 baths999 sqftSingle Family
The assumable advantage
4.17%
VA assumed rate
$60,855 interest already paid off
Estimated Loan Balance$330,164
Cash to close$74,652
Est. Monthly PITI$1,955
Initial Loan Amount$350,000
Time on site50 days
Remaining Term25 years, 9 months
Seller's equity (what you pay)
$67,826
Cash or secondary financing
Monthly savings
$602
Versus today's market rate
Est. savings per year
$7K
Versus today's market rate

About this home

ASSUMABLE VA LOAN AT 4.875%!! No MI!! Don't miss out on this spacious 2-bed, 2-bath condo with an open floor plan and 9-foot ceilings. The master suite features a Roman-style soaking tub, while the kitchen offers granite countertops, upgraded wood cabinetry, and a breakfast bar. Additional features include upgraded carpeting, a walk-in laundry room with full-size washer/dryer, and plenty of storage. Enjoy resort-style amenities: 3 pools, a Jacuzzi, a 2-story fitness center, business center, conference room, and BBQs. The gated complex includes a 4-story parking garage, with HOA management onsite. Conveniently located near the 51 Freeway, Sky Harbor, downtown, and walking distance to shopping and dining. A rare opportunity in a top location!

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 $67,826. 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 feet999
Property typeSingle Family
MLS #6899016
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)
$1,745/mo
Source est. payment (PITI)
$1,955/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$67,826

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

$0$67,826
Additional funds needed$0

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