Properties / 5508 S LUISENO Boulevard
VA ASSUMABLERate: 2.9%

5508 S LUISENO Boulevard

$674,000
Gilbert, AZ 85298
5 beds3 baths2,905 sqftSingle Family
The assumable advantage
2.9%
VA assumed rate
$78,127 interest already paid off
Estimated Loan Balance$569,507
Cash to close$106,979
Est. Monthly PITI$2,996
Initial Loan Amount$629,029
Time on site43 days
Remaining Term25 years, 6 months
Seller's equity (what you pay)
$104,493
Cash or secondary financing
Monthly savings
$1,340
Versus today's market rate
Est. savings per year
$16K
Versus today's market rate

About this home

Beautifully upgraded 5-bedroom, 3-bath home in the highly sought-after Bridges at Gilbert community! Offering 2,905 sq ft of thoughtfully designed living space, this exceptional home features a desirable main-level bedroom and full bath, perfect for guests, a home office, or multi-generational living. The open-concept kitchen showcases granite countertops, stainless steel appliances, abundant cabinetry, and a spacious dining area that seamlessly flows into the inviting family room, creating the perfect space for entertaining and everyday living. Upstairs, you'll find a generous loft, spacious secondary bedrooms, and a luxurious primary suite complete with dual vanities, an oversized walk-in shower, and a large walk-in closet. Step outside to your private backyard retreat featuring a sparkling play pool, lush low-maintenance landscaping, and plenty of space to relax and enjoy Arizona's beautiful weather. Extensively updated for peace of mind and modern comfort, including HVAC (2022), hot water heater (2021), new upstairs carpet (2021), luxury flooring downstairs (2025), new turf and travertine (2025), whole-house water softener and drinking water system (2022), updated baseboards (2025), plantation shutters in the living room (2025), 11-panel solar system (2021), and much more.

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 $104,493. 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

Bedrooms5
Bathrooms3
Square feet2,905
Property typeSingle Family
MLS #7060139
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)
$2,635/mo
Source est. payment (PITI)
$2,996/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$104,493

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

$0$104,493
Additional funds needed$0

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