Assumable Loans - Posted by Mike G.


#1

Posted by Rob FL on December 09, 1998 at 20:36:14:

It depends on what type of loan. VA, FHA, conventional. During the 1980’s they all changed from being ANQ to AWQ or due-on-sale. But, yes the older loans are still assume no qualify if you can find them, because the laws are not retroactive. I am sure some others know the exact dates of the changes.


#2

Assumable Loans - Posted by Mike G.

Posted by Mike G. on December 09, 1998 at 19:48:02:

I’ve read that some loans that were funded prior to 1988 are assumable ( No Qualifing ). I asked my loan broker this and he said no way, that you must qualify in order to assume. Who is right??? Thanks


#3

Re: Assumable Loans - Posted by rudy-austin

Posted by rudy-austin on December 10, 1998 at 07:39:10:

VA will allow contract for deeds -rudy, austin


#4

Dates on NQ Assumables - Posted by David Alexander

Posted by David Alexander on December 10, 1998 at 24:22:12:

VA loans originated before March 1988
FHA loans originated before Dec. 1989
are Non-Qualifying Assuambles.

David Alexander