Properties / 540 N MAY
VA ASSUMABLERate: 5.23%

540 N MAY

$255,000
Mesa, AZ 85201
2 beds2 baths1,031 sqftSingle Family
The assumable advantage
5.23%
VA assumed rate
$61,611 interest already paid off
Estimated Loan Balance$275,718
Cash to close$0
Est. Monthly PITI$1,792
Initial Loan Amount$291,555
Time on site50 days
Remaining Term25 years, 11 months
Seller's equity (what you pay)
$0
Cash or secondary financing
Monthly savings
$0
Versus today's market rate
Est. savings per year
$0K
Versus today's market rate

About this home

Large 2 bed 2 bath in elevator building. New HVAC 2025. Updated granite counter tops in kitchen and baths. Open dining living room area. Large balcony with storage. Close to Cubs stadium Tempe marketplace the 101 and 202. Community beautification to begin this year see documents

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 $0. 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
Bathrooms2
Square feet1,031
Property typeSingle Family
MLS #7015391
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)
$1,621/mo
Source est. payment (PITI)
$1,792/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

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

Confirm the current loan balance and equity requirement with an agent before estimating cash needed.