Properties / 1701 E COLTER Street
VA ASSUMABLERate: 3.02%

1701 E COLTER Street

$289,000
Phoenix, AZ 85016
1 beds1 baths942 sqftSingle Family
The assumable advantage
3.02%
VA assumed rate
$33,911 interest already paid off
Estimated Loan Balance$193,909
Cash to close$94,650
Est. Monthly PITI$1,183
Initial Loan Amount$220,000
Time on site2 days
Remaining Term24 years, 8 months
Seller's equity (what you pay)
$95,091
Cash or secondary financing
Monthly savings
$774
Versus today's market rate
Est. savings per year
$9K
Versus today's market rate

About this home

UnitThis rare TOP Floor 1 Bedroom with LOFT is a spacious floor plan that has large windows allowing for abundant natural light. Bedroom area is downstairs with full bath, a large soaking garden tub and walk in closet. Loft area provides that extra space for a home office or sitting area. Kitchen has white contemporary kitchen cabinets, white appliances and in unit laundry. The Biltmore Square Condominiums in Phoenix is a highly sought-after residential complex that offers a Luxurious & Contemporary Living Experience. Nestled in the Biltmore area, this condominium community provides residents with a combination of upscale amenities, convenient location and stunning views. The complex was designed with modern aesthetics and functionality in mind. **Community is VA Approved*

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 $95,091. 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

Bedrooms1
Bathrooms1
Square feet942
Property typeSingle Family
MLS #7077528
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)
$930/mo
Source est. payment (PITI)
$1,183/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$95,091

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

$0$95,091
Additional funds needed$0

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