Properties / 16402 N 31ST Street
VA ASSUMABLERate: 4.05%

16402 N 31ST Street

$180,900
Phoenix, AZ 85032
2 beds2 baths934 sqftSingle Family
The assumable advantage
4.05%
VA assumed rate
$26,553 interest already paid off
Estimated Loan Balance$51,623
Cash to close$129,720
Est. Monthly PITI$500
Initial Loan Amount$66,882
Time on site50 days
Remaining Term19 years
Seller's equity (what you pay)
$129,277
Cash or secondary financing
Monthly savings
$742
Versus today's market rate
Est. savings per year
$9K
Versus today's market rate

About this home

Welcome to 16402 N 31st St Unit 136 Assumable, a beautifully maintained home offering comfort, convenience, and low-maintenance living in a desirable community. The heart of the home is the beautifully updated kitchen, featuring modern finishes, ample cabinetry, and a functional design that's perfect for both everyday living and entertaining. The bright, open floorplan creates an inviting atmosphere, while the thoughtfully designed living spaces provide comfort and flexibility. Ideally located just minutes from shopping, dining, parks, and easy freeway access, this home offers the perfect blend of style, convenience, and value. Whether you're a first-time buyer, downsizing, or looking for a lock-and-leave lifestyle, this move-in ready home is one you won't want to miss

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 $129,277. 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 feet934
Property typeSingle Family
MLS #7046474
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)
$325/mo
Source est. payment (PITI)
$500/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$129,277

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

$0$129,277
Additional funds needed$0

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