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Bob Yon
  • Real Estate Investor
  • Salisbury, NC
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Can you sub-to a VA loan?

Bob Yon
  • Real Estate Investor
  • Salisbury, NC
Posted Aug 25 2010, 14:37

I was presented an opportunity tonight with a chance to buy what I think might be a good deal. The seller is not desperate but certainly anxious to sell this home because they have found a larger home they'd like to buy.

For the deal to work I would need to get the property sub-to which the seller is willing to do but neither of us are sure about the fact that the loan is a VA loan. Will me taking the property sub-to preclude him from getting another VA loan?

If that does not work, can he Lease/opt it? He says he thinks that all VA loans must remain owner occupied. Is that true?

Any information regarding the peculiarities of VA loans is appreciated.

Thanks,
Bob

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