Updated over 1 year ago on . Most recent reply
VA loan assumption
I have an opportunity to purchase an off market deal on a property in MD. The current owner transferred overseas, has the property currently under a 1 year lease, is looking to sell at the end the lease (Mar 25). I qualify for a VA loan but my question centers on the requirements. Normally, when you get a VA loan there is a one year occupancy for the property. Does that transfer with a loan assumption or can I immediately use it as an investment property? Any insight is greatly appreciated.