Assumable Mortgages for Investors

Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes

I'm surprised this isn't being talked about more in the BP forums. VA loans are assumable by investors! When the seller is willing to let their entitlement stay with the house anyone can assume their mortgage. This opens up a lot of opportunities for the seller to get their home sold quickly and maybe for a premium. Has anyone else done deals like this? I closed a couple last year and would love to connect with more people doing this!

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Joe HomsBusiness Member
Flipper · Mission Viejo, CA · Member since 2014 · 2k+ posts · 1k+ votes
1y
@Ryan Thomson I am working with a company right now that this and FHA assumable are their focus. I am working with 20 buyers as we speak, however its way more difficult here in California and less VA/FHA inventory due to pricing. I just looked in your area and there are hundreds of homes.
Good Investing...
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- Ryan ThomsonBusiness Member
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  Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
  1y
  Quote from @Joe Homs:
  
  @Ryan Thomson I am working with a company right now that this and FHA assumable are their focus. I am working with 20 buyers as we speak, however its way more difficult here in California and less VA/FHA inventory due to pricing. I just looked in your area and there are hundreds of homes.
  Good Investing...
  
  Hey Joe! Thanks for sharing. We should connect and share some experience!
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Bradley BuxtonBusiness Member
Real Estate Agent · NV · Member since 2023 · 1k+ posts · 720 votes
1y
@Ryan Thomson
I agree these can be a great way to get a low interest rate. We have seen a few of these deals in the Reno and Tahoe, NV area, although they are becoming increasingly rare. While such opportunities still exist, they often require a higher down payment than the standard 20% to bridge the gap between the loan amount and the purchase price. Investors looking to make the minimum down payment may find these deals less viable. Additionally, the buying process for these properties can be considerably longer.

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- Ryan ThomsonBusiness Member
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  Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
  1y
  Quote from @Bradley Buxton:
  
  @Ryan Thomson
  I agree these can be a great way to get a low interest rate. We have seen a few of these deals in the Reno and Tahoe, NV area, although they are becoming increasingly rare. While such opportunities still exist, they often require a higher down payment than the standard 20% to bridge the gap between the loan amount and the purchase price. Investors looking to make the minimum down payment may find these deals less viable. Additionally, the buying process for these properties can be considerably longer.
  
  Thanks for sharing what you are seeing! In Colorado we are seeing a LOT of properties that are much less than 20% down. The process does take about 45-90 days to close, but that extra time is well worth it for the low rate.
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