VA Assumption for investors beyond 3-12-88? - Posted by Walt (FL)


#1

Posted by JPiper on December 14, 1998 at 10:19:54:

Walt:

The correct date for VA loans is March 1, 1988. Prior to this date they are non qualifying assumables. These may be assumed by ANYONE for a fee of $45.

A $31K loan on a $37K 1 bedroom house doesn?t sound very attractive to me??but you haven?t given us any information on the loan payment, rental values, etc. 1 bedroom houses have a very limited market.

JPiper


#2

VA Assumption for investors beyond 3-12-88? - Posted by Walt (FL)

Posted by Walt (FL) on December 14, 1998 at 08:21:57:

Hi,

Another Call, another potential deal? Seller has small 1/1, $31K balance on house worth approx. $37K (unseen). Sounds like a VA Assumable, I know that VA loans prior to 3-12-88 are Non-Qualifying Assumables, but my question is: Are they only assumable to an owner/occupant or to investors also?

How might a profit center be structured around this assumption, Owner seems willing to deed property, but may wish to be released from loan.

Thanks,

Walt (FL) IBUYHOUSES@ij.net