Properties / 1 E LEXINGTON Avenue
VA ASSUMABLERate: 6.22%

1 E LEXINGTON Avenue

$2,100,000
Phoenix, AZ 85012
2 beds3 baths2,288 sqftSingle Family
The assumable advantage
6.22%
VA assumed rate
$59,184 interest already paid off
Estimated Loan Balance$1,266,215
Cash to close$835,039
Est. Monthly PITI$8,937
Initial Loan Amount$1,273,603
Time on site28 days
Remaining Term29 years, 4 months
Seller's equity (what you pay)
$833,785
Cash or secondary financing
Monthly savings
$4,551
Versus today's market rate
Est. savings per year
$55K
Versus today's market rate

About this home

Penthouse living with breathtaking panoramic views and unmatched luxury! Perched on the top floors, this spectacular 2-bedroom, 2.5-bath penthouse offers an extraordinary lifestyle with soaring 20-foot ceilings and walls of retractable glass that seamlessly blend indoor and outdoor living. Step onto the expansive nearly 900 sqft wraparound terrace and take in sweeping views of the Phoenix Mountain Preserve, Camelback Mountain, and the entire Valley. Dual primary suites on the main and upper levels and spacious loft/media room. Live in style with reserved parking spaces and an impressive collection of resort-style amenities, including a 24-hour front desk and guard, sparkling pool and spa, fitness center, clubhouse, and more. This is luxury penthouse living at its finest!

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 $833,785. 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
Bathrooms3
Square feet2,288
Property typeSingle Family
MLS #7062283
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)
$7,833/mo
Source est. payment (PITI)
$8,937/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$833,785

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

$0$833,785
Additional funds needed$0

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