Properties / 3131 E ALICIA Drive
VA ASSUMABLERate: 6.9%

3131 E ALICIA Drive

$640,000
Phoenix, AZ 85042
3 beds3 baths1,900 sqftSingle Family
The assumable advantage
6.9%
VA assumed rate
$93,228 interest already paid off
Estimated Loan Balance$551,738
Cash to close$87,710
Est. Monthly PITI$4,198
Initial Loan Amount$566,070
Time on site1 day
Remaining Term27 years, 8 months
Seller's equity (what you pay)
$88,262
Cash or secondary financing
Monthly savings
$46
Versus today's market rate
Est. savings per year
$1K
Versus today's market rate

About this home

You've been looking for a single-family home in Phoenix with a quartz kitchen, walk-in primary shower, and mountain views -- here it is. This 3-bedroom, 2.5-bath (2 full, 1 half) single-story home sits in Phoenix's 85042 Baseline Corridor, inside the gated Highline community, with 1,901 square feet, a newer 2024 build, and a 2-car garage with epoxy-coated flooring. The kitchen offers abundant white European-style cabinetry, quartz countertops, and stainless steel appliances. The primary suite includes a large walk-in shower and a closet organizing system, with tile flooring throughout. Out back, low-maintenance travertine and turf make this backyard ready for weekend barbecues. Minutes from hiking at South Mountain, with mountain and downtown views, and quick I-10 access to Sky Harbor.

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 $88,262. 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
Bathrooms3
Square feet1,900
Property typeSingle Family
MLS #7078204
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)
$3,728/mo
Source est. payment (PITI)
$4,198/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$88,262

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

$0$88,262
Additional funds needed$0

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