Updated over 2 years ago on . Most recent reply
Assumption of Loan for VA loan
Does anyone know if an assumption of loan is common or not usually approved by a lender? Looking for info on assumption of a VA loan, with both members with a VA loan entitlement. Thank you in advance!
Most Popular Reply
Anecodatelly, I have heard they are very tough to do. Besides a buyer needing to find the right priced home with the right size mortgage they want to assume so they have the correct amount of downpayment, the loan servicer has to play ball. Many of them do not like assumptions so they tell you to call the VA, then the VA tells you to call loan servicer, and back and forth everyone goes. I have heard of a few success stories, but mostly people chase their tales and miss out on other opportunities in the meantime. That is my 2 cents