VA loans - Posted by Michael (NM)


#1

Posted by Bud Branstetter on November 03, 1998 at 12:57:13:

If the loan is before 3/1/88 it can be assumed. A veteran that owns that property and selling may not want it assumed if he wants to reuse his eligibility.

The VA will also give non-veterans loans on VA foreclosed properties.


#2

VA loans - Posted by Michael (NM)

Posted by Michael (NM) on November 03, 1998 at 09:34:14:

Are these loans assumable by non veterans. I’ve heard several people (Realtors/sellers) claim they are and I’ve had several tell me they’re not.
Thanks,

Michael


#3

Re: VA loans - Posted by Dave T

Posted by Dave T on November 03, 1998 at 17:52:32:

A veteran who purchased property with a VA loan may sell the property to a veteran or nonveteran at any time. However, if the loan was closed after March 1, 1988, and it will be assumed, the qualifications of the assumer must be reviewed and approved by the lender or VA.