All Forum Posts by: Sean Sullivan

@Wesley Pittman

Yep, thats what I have been finding as well.

@Wesley Pittman

Hey Wes,

Have you been able to close a VA assumption without the assuming party certifying that they will owner occ? Though I'm not trying to assume a relative's property, here's what I'm finding from most searches I have been conducting:

"Edward2 months ago

I am looking at assuming the VA loan on my parents property in FL with the intent to someday retire there. Am I able to assume the loan since it won't be my primary residence for now? Thanks

−Chris Birk Veterans United Edward2 months ago

@Edward: Thanks for writing. To be sure, the present servicer can give the best guidance here. The VA's guidelines do require the buyer assuming the VA loan to occupy the home as their primary residence when the assumption is processed. More than likely you'll need to wait until you intend to move there full-time. I hope this helps!"

It seems to be mostly up to the lender as to how sticky they want to be with the owner occ requirement upon assumption. I would just hate to get to this point and not be able to close the loan because I will never be owner occupying this property.

Thanks for the suggestion of the title company though, I'll have to give them a call.

@Wesley Pittman - Everything I've been seeing points to the property needing to be owner occupied in order to assume the loan, if this is not the case, then that opens the door to assuming the loan for me

@Chris Davidson - Two. Have done business with them before, neither wanted to touch this deal.

Hi Everyone,

I have a seller with a VA loan who is willing to sell the property to me on a subject to basis. She's not concerned with taking out another loan so, the entitlement limits are not a concern. My difficulty is in finding a title company that will handle this transaction. I'm in Northern Nevada if anyone has any recommendations. - TIA