Properties / 101 N 7TH Street
VA ASSUMABLERate: 3.01%

101 N 7TH Street

$360,000
Phoenix, AZ 85034
2 beds3 baths1,630 sqftSingle Family
The assumable advantage
3.01%
VA assumed rate
$51,325 interest already paid off
Estimated Loan Balance$258,028
Cash to close$103,786
Est. Monthly PITI$1,570
Initial Loan Amount$296,200
Time on site50 days
Remaining Term23 years, 11 months
Seller's equity (what you pay)
$101,972
Cash or secondary financing
Monthly savings
$861
Versus today's market rate
Est. savings per year
$10K
Versus today's market rate

About this home

Rare opportunity in a gated downtown Phoenix community! This fully furnished 2BR + loft townhouse offers exceptional flexibility as a primary residence, second home, or investment property. Enjoy resort-style amenities including koi ponds, 2 pools, gym, 2 spa, and private covered parking. Conveniently located near Chase Field, Heritage Square, downtown universities, restaurants, museums, concerts, sporting events, and nightlife. Inside features 2 primary suites, an updated kitchen with granite counters, breakfast bar, vaulted ceilings, fireplace, walk-in closets, oversized shower, custom barn door, no carpet, new LVP flooring upstairs (2025), All new appliances (2024-2025). New Washer/Dryer (2023). Multiple outdoor spaces include 2 patios and a balcony with city views. Over 1,600 SF in an unbeatable downtown location!

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 $101,972. 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 feet1,630
Property typeSingle Family
MLS #7040365
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)
$1,262/mo
Source est. payment (PITI)
$1,570/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$101,972

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

$0$101,972
Additional funds needed$0

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