Can Non-Veterans Assume VA Loans? Yes. Here's How.
Saturday, June 13
# Can Non-Veterans Assume VA Loans? Yes. Here's How. Yes. Non-veterans can assume VA loans. Full stop. This is probably the most commonly asked question I get, and the answer surprises almost everyone. There's no requirement that the person assuming a VA loan has military service. A civilian buye...
What Happens If You Can't Qualify for the Assumption
Saturday, June 13
# What Happens If You Can't Qualify for the Assumption Sometimes the servicer says no. Your credit isn't high enough, your DTI is too tight, or something else in your financial profile doesn't pass underwriting. It's frustrating, but it's not the end of the road. ## Common Reasons for Denial **Cr...
Renting vs Buying With an Assumable Mortgage
Friday, June 12
At today's 7% rates, renting is often cheaper than buying. But an assumable mortgage at 2.5% completely changes the math. Let me show you. The Standard Rent vs. Buy Math (at 7%) Take a $400,000 home at 7%: Monthly mortgage (P&I): $2,661Property taxes: ~$350/monthInsurance: ~$150/monthMaintena...
First-Time Homebuyer Guide to Assumable Mortgages
Friday, June 12
If you're buying your first home, you've probably been told to get pre-approved at whatever rate the bank offers (probably 7%) and go find a house. That's one path. Here's a better one. An assumable mortgage lets you take over someone else's existing loan at their interest rate. If they locked in...
How to Buy a House at a 2.5% Interest Rate in Colorado (Yes, It's Poss
Thursday, June 11
Someone told you it's possible to buy a house at a 2.5% interest rate in Colorado. You thought they were wrong. They aren't. The process is called a mortgage assumption. It's not a trick. It's federal law. And in Colorado, specifically along the Front Range where military bases funnel tens of tho...
How to Sell Your Home With an Assumable Mortgage: A Seller's Complete
Thursday, June 11
**To sell a home with an assumable mortgage, confirm your FHA, VA, or USDA loan qualifies (all do by law), price to reflect the rate's value, market the low rate prominently in your listing, and be prepared for a 45,90 day closing timeline. Sellers with VA loans should understand their entitlemen...