Vetted VA: VA Loan - Your Journey Home18 Juli 2023

Can Anyone Assume a VA loan?

Welcome to the Vetted VA podcast, your guide to navigating the world of VA lending and completing the journey to owning a home. We're here to provide you with valuable insights, expert advice, and reliable information, all backed by official documentation from the VA and Lender Guidelines.

In this episode, we delve into a topic that many are familiar with but often struggle to fully comprehend: VA Loan assumptions. Have you ever wondered how these assumptions actually work? How can you buy or sell a home using a loan assumption? Join our esteemed panelists Josh Lewis, Ashley Mulcahey, JD Mathieu, and Andy Treno as they unravel the mysteries surrounding VA Loan assumptions. They'll share the dos and don'ts, shed light on both the known and unknown aspects of this process.

If you prefer a visual experience, you can also find this episode on our YouTube channel. Just head over to youtube.com/@vettedva and search for ""VA Loan Assumptions"" or simply click the link provided in the show notes.

So, without further ado, let's dive right into the episode and uncover the secrets of VA Loan assumptions."

Enjoy!

In This Episode

06:35 - What does it mean to assume a loan?

07:32 - Biggest hurdle in an assumption loan

08:56 - What is the benefit of assuming a VA loan?

10:09 - Who can assume a VA loan?

12:06 - What are the costs of assuming a VA loan?

14:22 - The timeline of closing on an assumed loan

16:36 - What happens to the Veteran home owner's entitlement when their loan is assumed?

21:12 - How to get your entitlement restored

28:46 - Can you have an FHA and VA loan at the same time?

Favorite Quotes

06:37 - "Instead of going through the regular loan origination process, you literally take over the same loan that the seller has on the property with the same terms and continue to make the payments." - JD Mathieu

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