Properties / 703 E CARMEN Street
VA ASSUMABLERate: 3.31%

703 E CARMEN Street

$500,000
Tempe, AZ 85283
3 beds2 baths1,840 sqftSingle Family
The assumable advantage
3.31%
VA assumed rate
$49,972 interest already paid off
Estimated Loan Balance$224,791
Cash to close$276,235
Est. Monthly PITI$1,477
Initial Loan Amount$258,193
Time on site35 days
Remaining Term23 years, 9 months
Seller's equity (what you pay)
$275,209
Cash or secondary financing
Monthly savings
$1,809
Versus today's market rate
Est. savings per year
$22K
Versus today's market rate

About this home

Location Location Location!!!! Semi-udated 3 bedroom 2 bath in the heart of everything!!! Minutes from entertainment on Mill. shopping to the east and west and surrounded by excellent resturants. Deep sparkling diving pool. Paid off Solar. Close to ASU Near the 60 Freeway, not far from Sky Harbor Airport. This is a must see!!!! Plenty storage in the workshop ina nice secure backyard. Don't miss this one!!!

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 $275,209. 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 feet1,840
Property typeSingle Family
MLS #7058801
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)
$1,140/mo
Source est. payment (PITI)
$1,477/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$275,209

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

$0$275,209
Additional funds needed$0

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