Properties / 363 W MORRIS Drive
VA ASSUMABLERate: 6.46%

363 W MORRIS Drive

$319,900
Queen Valley, AZ 85118
3 beds2 baths1,569 sqftSingle Family
The assumable advantage
6.46%
VA assumed rate
$34,073 interest already paid off
Estimated Loan Balance$272,466
Cash to close$47,434
Est. Monthly PITI$1,947
Initial Loan Amount$278,083
Time on site21 days
Remaining Term28 years, 2 months
Seller's equity (what you pay)
$47,434
Cash or secondary financing
Monthly savings
$135
Versus today's market rate
Est. savings per year
$2K
Versus today's market rate

About this home

This home is fully furnished! From the kitchen to the bedrooms. Master bedroom with a large bathroom with a sunken tub, and a walk in closet. The two other bedrooms have their own good size closets. Kitchen cabinets and countertops are ungraded with lots of storage. Vinyl flooring through the main living. And carpeting in the bedrooms. Outdoor areas are set up for entertaining of all sorts! A gas firepit, gas bbq grill. What is in and out of the house stays!

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 $47,434. 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 feet1,569
Property typeSingle Family
MLS #7069564
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)
$1,752/mo
Source est. payment (PITI)
$1,947/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$47,434

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

$0$47,434
Additional funds needed$0

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