Properties / 1500 E CHOCTAW Drive
VA ASSUMABLERate: 2.39%

1500 E CHOCTAW Drive

$725,000
Sierra Vista, AZ 85650
6 beds4 baths4,570 sqftSingle Family
The assumable advantage
2.39%
VA assumed rate
$45,432 interest already paid off
Estimated Loan Balance$297,766
Cash to close$427,234
Est. Monthly PITI$2,354
Initial Loan Amount$362,000
Time on site0 days
Remaining Term19 years, 3 months
Seller's equity (what you pay)
$427,234
Cash or secondary financing
Monthly savings
$2,667
Versus today's market rate
Est. savings per year
$32K
Versus today's market rate

About this home

Welcome to this 2-acre paradise featuring 6 beds & 3.5 baths. Enjoy breathtaking mountain views overlooking your private oasis. Enjoy the waterfall, beach entry pool with spa , covered wrap around patios, ramadas, lush gardens, separate horse/animal area, chicken coup, vegetable garden, elevated viewing deck, multiple sheds, gated RV access and a 3-car garage/workshop. Inside, find chef inspired kitchen with huge island (quartz countertops, double ovens, gas cooktop) and two primary suites. Features include a charcoal water filtration system, central vacuum, and unique accessibility via chair lift stairs. Bonus: A first-floor primary suite, an AZ room perfect for a greenhouse or hot tub, and owned solar system. Your dream lifestyle awaits!

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 $427,234. 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

Bedrooms6
Bathrooms4
Square feet4,570
Property typeSingle Family
MLS #7073608
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)
$1,609/mo
Source est. payment (PITI)
$2,354/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$427,234

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

$0$427,234
Additional funds needed$0

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