Properties / 532 E RENEE Drive
VA ASSUMABLERate: 3%

532 E RENEE Drive

$450,000
Phoenix, AZ 85024
3 beds2 baths1,597 sqftSingle Family
The assumable advantage
3%
VA assumed rate
$47,794 interest already paid off
Estimated Loan Balance$290,650
Cash to close$160,175
Est. Monthly PITI$1,813
Initial Loan Amount$335,850
Time on site25 days
Remaining Term20 years, 11 months
Seller's equity (what you pay)
$159,350
Cash or secondary financing
Monthly savings
$1,094
Versus today's market rate
Est. savings per year
$13K
Versus today's market rate

About this home

Welcome to this 3-bedroom, 2-bath single-level home, ideally situated on a spacious cul-de-sac lot with no HOA! The home features a newer A/C system, updated bathrooms, plantation shutters and a newer roof, offering both comfort and peace of mind. Enjoy the expansive yard surrounded by mature landscaping, providing plenty of space for entertaining, gardening, pets, or simply relaxing outdoors. A covered patio creates the perfect spot for year-round outdoor enjoyment. The desirable north-south exposure adds to the home's appeal. Conveniently located close to shopping, restaurants, and everyday amenities, with quick freeway access for an easy commute. With its single-level layout, generous lot, thoughtful updates, and fantastic location, this home is a perfect fit for you!

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 $159,350. 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 feet1,597
Property typeSingle Family
MLS #7067663
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)
$1,560/mo
Source est. payment (PITI)
$1,813/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$159,350

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

$0$159,350
Additional funds needed$0

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