VA Loan - Subject To

[Brent Grizzle]

I have a Seller willing to do a Subject To sale, but only one objection remains.

It is a VA loan. Seller says she probably won't buy again, but doesn't want to lose her eligibility for another VA loan.

Is there a workaround?

[Joe Homs]

@Brent Grizzle VA loans are assumable. The new buyer just needs to qualify.

How to Assume a VA Home Loan

For the assumption to take place, you must meet these requirements

• The new homebuyer meets the lender's credit and income requirements
• The new homebuyer must assume all mortgage obligations
• The new homebuyer must pay the funding fee unless otherwise exempt

The VA funding fee on a VA loan assumption is 0.5% of the remaining loan balance. Those exempt from paying the VA funding fee typically include Veterans with a service-connected disability, Purple Heart recipients and surviving spouses.

Non-Veterans assuming a VA loan must pay the VA funding fee.

Good Investing...