Properties / 1229 SIERRY PEAKS Drive
VA ASSUMABLERate: 2.83%

1229 SIERRY PEAKS Drive

$2,149,990
Prescott, AZ 86305
5 beds5 baths4,516 sqftSingle Family
The assumable advantage
2.83%
VA assumed rate
$161,376 interest already paid off
Estimated Loan Balance$940,218
Cash to close$1,211,982
Est. Monthly PITI$5,153
Initial Loan Amount$1,073,233
Time on site44 days
Remaining Term24 years, 5 months
Seller's equity (what you pay)
$1,209,772
Cash or secondary financing
Monthly savings
$8,231
Versus today's market rate
Est. savings per year
$99K
Versus today's market rate

About this home

Timeless Old World elegance meets modern intentional design in this stunning 4,000+ sq. ft. plus separate guest quarters estate. Centered around a magnificent private courtyard, this home creates a seamless indoor/outdoor living sanctuary. The main residence boasts a dramatic Great Room with soaring 14-foot ceilings and a sophisticated gas fireplace anchored by custom concrete surrounds. Engineered hardwood flooring flows into the formal dining room and a dedicated wet bar, perfect for world-class entertaining. Wood-cased hand-cranked windows and Hunter Douglas motorized custom drapery frame the views, while dual sets of patio doors dissolve the boundaries between inside and out. The gourmet kitchen is a chef's masterclass, featuring Kraftmaid cabinetry, Indian Premium Black Granite countertops, a center island with a prep sink, and a classic farmhouse sink in the main countertop. High-end appliances include a 36-inch Verona stainless steel dual-fuel oven range, Bosch 30 inch electric double oven, Sub-Zero refrigerator and freezer, JennAir microwave, and a Bosch dishwasher. The primary suite serves as a private retreat, highlighting a copper tub and an oversized primary closet. This versatile floor plan also includes a separate office, a tech center/game room, and a dedicated exercise room. Off the front courtyard, find a fully contained 380 sq. ft. separate casita/guest quarters. This space features its own private entry, a full bathroom, a prep area, and a separate laundry hookup, ideal for long-term guests, a home studio, or a remote office. The property includes a newly installed wrought-iron fenced rear yard, a water filtration system, a tankless water heater, a central vacuum, a security system, and solar infrastructure. Storage is abundant with a heated and cooled 4-car garage complete with connecting passthrough custom storage cabinetry and epoxy floors. Experience quiet, rustic luxury in every detail.

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 $1,209,772. 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

Bedrooms5
Bathrooms5
Square feet4,516
Property typeSingle Family
MLS #7059765
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)
$4,448/mo
Source est. payment (PITI)
$5,153/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$1,209,772

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

$0$1,209,772
Additional funds needed$0

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