Properties / 8803 W Orchid Lane
VA ASSUMABLERate: 2.5%

8803 W Orchid Lane

$419,999
Peoria, AZ 85345
3 beds2 baths1,931 sqftSingle Family
The assumable advantage
2.5%
VA assumed rate
$44,344 interest already paid off
Estimated Loan Balance$342,940
Cash to close$77,059
Est. Monthly PITI$1,683
Initial Loan Amount$365,000
Time on site50 days
Remaining Term24 years, 11 months
Seller's equity (what you pay)
$77,059
Cash or secondary financing
Monthly savings
$935
Versus today's market rate
Est. savings per year
$11K
Versus today's market rate

About this home

NO HOA. MECHANICS DREAM. Step inside to an inviting living area with vaulted ceilings and an open, comfortable feel. The kitchen offers generous counter space, painted cabinetry, custom beadboard ceiling details, and a cozy eat-in area. A separate formal dining room provides flexible space for an office, den, or second living area. The spacious primary suite features a private bathroom with dual sinks and a separate tub and shower.

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 $77,059. 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
Bathrooms2
Square feet1,931
Property typeSingle Family
MLS #7029715
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)
$1,542/mo
Source est. payment (PITI)
$1,683/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$77,059

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

$0$77,059
Additional funds needed$0

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