Properties / 2266 SPITFIRE Circle
VA ASSUMABLERate: 6.85%

2266 SPITFIRE Circle

$659,000
Overgaard, AZ 85933
3 beds2 baths1,508 sqftSingle Family
The assumable advantage
6.85%
VA assumed rate
$75,189 interest already paid off
Estimated Loan Balance$544,031
Cash to close$116,027
Est. Monthly PITI$4,090
Initial Loan Amount$554,443
Time on site50 days
Remaining Term28 years
Seller's equity (what you pay)
$114,969
Cash or secondary financing
Monthly savings
$242
Versus today's market rate
Est. savings per year
$3K
Versus today's market rate

About this home

Home & Hangar at Mogollon Airpark: Cozy, rustic charm meets modern comfort in this lock-and-leave retreat at AZ82 w/direct taxiway access and a private hangar! Featuring 3 bedrooms, 2 baths, wood stove, vaulted knotty pine ceilings and tasteful updates throughout, this is the perfect mountain getaway. Recent improvements include new kitchen countertops, updated bathrooms, fresh interior and exterior paint, the addition of a convenient mudroom and an outdoor storage shed. Situated on a spacious 0.82-acre lot, you'll enjoy the beauty of the White Mountains from either the lower-level deck or the expansive second floor deck, with access from the master bedroom and living room. There's even a fully enclosed dog run adjacent to the house for your pets. The 50' x 40' hangar features an accordion door w/42 foot door opening, finished concrete floors, a mini-split heating and cooling system, utility sink and its own bathroom--ready for your aircraft, workshop, or both. You'll love being at 6658' elevation with mild summers and winters and just 90 nautical miles northeast of Phoenix. The area boasts many dining options, grocery, hardware, and other shops. Abundant outdoor activities include County and State parks, ATV trails, hunting, hiking, boating, and lakes for fishing less than 30 minutes away in every direction. Mogollon Airpark is a vibrant private residential airpark with a 3420' asphalt runway (plus an approx 1000 feet on each end for takeoff & overruns), and an active EAA chapter hosting events including BBQs, happy hours, and breakfast fly-ins. The community offers a clubhouse, tennis & basketball courts, picnic tables, gas grills, and a play area for kids.

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 $114,969. 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

Bedrooms3
Bathrooms2
Square feet1,508
Property typeSingle Family
MLS #7054275
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)
$3,644/mo
Source est. payment (PITI)
$4,090/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$114,969

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

$0$114,969
Additional funds needed$0

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