Properties / 6583 S TERESA Drive
VA ASSUMABLERate: 2.87%

6583 S TERESA Drive

$699,000
Chandler, AZ 85249
4 beds2 baths2,421 sqftSingle Family
The assumable advantage
2.87%
VA assumed rate
$24,514 interest already paid off
Estimated Loan Balance$136,187
Cash to close$563,136
Est. Monthly PITI$1,086
Initial Loan Amount$156,428
Time on site30 days
Remaining Term24 years, 2 months
Seller's equity (what you pay)
$562,813
Cash or secondary financing
Monthly savings
$3,470
Versus today's market rate
Est. savings per year
$42K
Versus today's market rate

About this home

This single-story, Chandler home has been beautifully updated and is in a prime location, offering comfort and convenience. Close to plenty of shopping, dining, entertainment, 3 parks, and the SunBird & Lone Tree golf clubs, making the ideal Arizona lifestyle easy to enjoy with wide walking paths through the community. Or, stay home to appreciate the lush, shaded backyard & swimming pool. From the moment you enter the foyer, the inviting floor plan includes an updated media center with the option to use the built-in projector. The formal dining area flows into the heart of the home, living area and kitchen. The primary suite has a spacious bathroom, closet and French door for easy access to the backyard. Beautifully updated floors have been added to the additional bedroom with an updated, walk-in closet, and the other 2 bedrooms. Plenty of storage throughout, including the 3 car garage. The lush backyard includes a pool with a water features, covered patio, lush landscaping and natural grass, citrus trees, & a built-in grill. Upgrades list available!

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 $562,813. 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

Bedrooms4
Bathrooms2
Square feet2,421
Property typeSingle Family
MLS #7065249
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)
$652/mo
Source est. payment (PITI)
$1,086/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$562,813

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

$0$562,813
Additional funds needed$0

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