Properties / 5101 E KAREN Drive
VA ASSUMABLERate: 3.62%

5101 E KAREN Drive

$1,049,000
Scottsdale, AZ 85254
3 beds3 baths2,324 sqftSingle Family
The assumable advantage
3.62%
VA assumed rate
$97,193 interest already paid off
Estimated Loan Balance$397,042
Cash to close$654,554
Est. Monthly PITI$2,572
Initial Loan Amount$452,114
Time on site50 days
Remaining Term23 years, 9 months
Seller's equity (what you pay)
$651,958
Cash or secondary financing
Monthly savings
$4,107
Versus today's market rate
Est. savings per year
$49K
Versus today's market rate

About this home

Don't miss this rare opportunity to own a beautiful home in the sought after Santiago subdivision of Scottsdale's ''MAGIC'' 85254 zip code. Designed by renowned architect Bob McIntyre, known for creating the iconic Tlaquepaque Arts & Shopping Village in Sedona AZ. This turnkey property is nicely updated and has been operating as an active short-term rental without Scottsdale's restrictive guidelines. Sellers are willing to include all furnishings with the right offer! Ideally situated near premier shopping, golf courses, the Mayo Clinic, and within walking distance to parks and schools. Drive through the modern gates into a charming private courtyard with a beautiful fountain. Inside, you'll find the perfect tile flooring, vaulted ceilings, and updated energy efficient windows throughout. The gourmet kitchen features granite countertops, stainless steel appliances, and a breakfast bar perfect for entertaining. The main-level primary suite provides comfort and privacy, while upstairs offers a spacious loft, two additional bedrooms with bamboo flooring, and a Jack-and-Jill bathroom. The two-car garage includes built-in cabinetry and epoxy flooring. The resort-style backyard is your own private paradise featuring an outdoor kitchen, easy to maintain artificial turf, mature fruit trees, travertine pool decking, and a diving pool designed for Arizona living at its finest.

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 $651,958. 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
Bathrooms3
Square feet2,324
Property typeSingle Family
MLS #7028947
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)
$2,079/mo
Source est. payment (PITI)
$2,572/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$651,958

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

$0$651,958
Additional funds needed$0

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