FHA/VA Loans - Posted by Rick

import · February 28, 2003, 1:28pm

Posted by TomC (Md) on March 01, 2003 at 17:45:40:

For FHA loans, you must be an owner-occupant to assume (I looked into assuming a FHA about 18 mos ago), but I’m not so sure about the VA. I assumed a VA loan this past summer as a non-owner occupant. It was clearly disclosed to Countrywide and the VA on the assumption application, and it sailed on through. TomC

import · February 28, 2003, 1:28pm

Posted by Rick on February 28, 2003 at 14:28:53:

Does anyone know if FHA OR VA mortgages are still assumeable? If they are what is the process and what conditions would need to be met?

Thanks,

Rick

import · March 1, 2003, 5:14am

Re: FHA/VA Loans - Posted by Dave T

Posted by Dave T on March 01, 2003 at 06:14:35:

Yes, FHA and VA loans are still assumable, but only with qualification. To qualify to assume the loan you must be an owner occupant, and, you must meet the same creditworthiness criteria the lender would require as if you were applying for the loan as the original borrower.

import · February 28, 2003, 11:24pm

Re: FHA/VA Loans - Posted by todd

Posted by todd on March 01, 2003 at 24:24:43:

I talked to a man at the VA 2 months ago in my area (Oregon) and they are still assumable, though in my area they just quit offering Va financing on their foreclosed property

import · August 8, 2003, 7:34pm

Re: FHA/VA Loans - Posted by homeward

Posted by homeward on August 08, 2003 at 19:34:06:

correction if the original loan was sign prior to December 1, 1986 it is fully assumable without qualifying.