Properties / 1341 E ORCHID Lane
VA ASSUMABLERate: 2.89%

1341 E ORCHID Lane

$675,000
Phoenix, AZ 85020
3 beds2 baths1,826 sqftSingle Family
The assumable advantage
2.89%
VA assumed rate
$46,025 interest already paid off
Estimated Loan Balance$255,172
Cash to close$421,024
Est. Monthly PITI$1,578
Initial Loan Amount$291,600
Time on site50 days
Remaining Term24 years, 3 months
Seller's equity (what you pay)
$419,828
Cash or secondary financing
Monthly savings
$2,760
Versus today's market rate
Est. savings per year
$33K
Versus today's market rate

About this home

Perfect blend of comfort and scenic beauty in this corner-lot gem just steps from hiking in the Phoenix Mountain Preserves! Appealing interior features a large living room enhanced by a cozy fireplace that flows seamlessly into the dining area. Stylish light fixtures, neutral tone, wood-look tile floors, ceiling fans, and bountiful natural light add to the home's welcoming charm. Spotless kitchen offers abundant cabinets, stainless steel appliances, quartz counters, and a prep island with a breakfast bar. Impeccable main retreat showcases a well-sized closet, and a private bathroom for convenience. Secondary bedroom offers a Murphy Bed. Enjoy amazing mountain views from the serene backyard, complete with a covered patio, storage room, and a separate workshop ideal for DIY enthusiast

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 $419,828. 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 feet1,826
Property typeSingle Family
MLS #7049716
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)
$1,221/mo
Source est. payment (PITI)
$1,578/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$419,828

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

$0$419,828
Additional funds needed$0

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