Assumable VA Loan - Best Kept Secret?!?
ฝัง
- เผยแพร่เมื่อ 6 ก.ย. 2024
- Looking to assume a VA loan but don't know where to start? In this video, I break down the process and discuss the advantages and disadvantages for both buyers and sellers.
While not a loan officer, I bring a wealth of experience and knowledge to the table, providing valuable insights into the complexities of assuming a VA loan. With so little information available on the topic, this video is a must-watch for anyone interested in the VA loan assumption process.
You'll learn about the benefits of VA loan assumption, including how it can be a win-win situation for both buyers and sellers. However, sellers do assume most of the risk, and the process can take a long time to complete.
Contact me:
Website: shawnclearyhom...
Email: spcleary@kw.com
Facebook: ShawnPCleary
Phone: 843-405-3364
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My realtor friend didn’t know about VA assumptions. He gave me the number for a lender friend. Good to know the lender doesn’t benefit before I talk to them.
Sweet editing skills brother. What program do you use and what tools did you learn with?
What if the seller refinanced and owes as much as the house is worth? This is my situation. How does the inbetween down payment work.. I am the buyer.
Thank you
When did the seller refinance? Depending on the interest rate, it might not even be worth doing the assumption at all. I wouldn't imagine there would be any difference except that you have to bring less cash to the closing table.
@@livingincharlestonsuburbs
I believe she refinanced 2019ish. She just got a divorce and the house is now hers... she says house is worth 240k but she now owes that much and just wants to wash her hands of the house and get free of it.. they bought house in 2014.
Is this an option to purchase as an investment property, or only for primary residence?
It can be an investment purchase. However, it would be the same as if the buyer was non-VA eligible. They lose a portion of their entitlement. Sometimes, if the seller is in financial extremis, this could be a good option, but by-and-large it's not a good idea for an everyday seller.