Ask Terry Questions VA Loans can be “assumed”

VA Loans can be “assumed”

By Terry Savage on June 01, 2015 | Housing / Real Estate

I think in this environment you should have added the all VA loans have an assumption feature. That could add real value in the future. Check

Terry Says:  You make a VERY good point!  We don’t think much about mortgage assumption these days.  As rates have continued to decline over the years, it’s mostly cheaper to take out a new loan.  But back in the late 70s and early 80s a mortgage that could be assumed by the buyer (if they had good credit) was a terrific asset to a home-seller.  Back then rates were climbing, and if you could assume an older, lower-rate mortgage it was a big help to both home buyers and home sellers.  So, yes, VA loans can be assumed by qualified veterans.  Thanks for writing in and making this point.



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