Properties / 196 E CEDAR Street
VA ASSUMABLERate: 5.23%

196 E CEDAR Street

$348,000
Globe, AZ 85501
3 beds4 baths2,043 sqftSingle Family
The assumable advantage
5.23%
VA assumed rate
$71,123 interest already paid off
Estimated Loan Balance$318,750
Cash to close$32,072
Est. Monthly PITI$2,113
Initial Loan Amount$336,567
Time on site50 days
Remaining Term25 years, 11 months
Seller's equity (what you pay)
$29,250
Cash or secondary financing
Monthly savings
$178
Versus today's market rate
Est. savings per year
$2K
Versus today's market rate

About this home

This spacious three-bedroom, four-bath home offers an impressive amount of living space just a stone's throw from downtown. Each bedroom features its own bathroom, providing comfort and convenience, along with an additional guest bath. The home boasts a large kitchen complete with a generous island and bar seating-perfect for both everyday living and entertaining. Blending modern updates with timeless character, you'll appreciate the exposed brick accents throughout and the soaring high ceilings that give the home a warm, open feel. In addition, the property includes a versatile storage/workshop area with convenient access from both the backyard and Hill Street-ideal for projects, extra storage, or hobbies.

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 $29,250. 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
Bathrooms4
Square feet2,043
Property typeSingle Family
MLS #7003382
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)
$1,874/mo
Source est. payment (PITI)
$2,113/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$29,250

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

$0$29,250
Additional funds needed$0

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