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Military Community Resources

VA ASSUMPTION LOANS

• An assumable loan is a government backed loan that can be
transferred from a seller to a buyer at the same interest rate.
• VA loans, FHA Loans and USDA loans are all assumable
• Any buyer can assume a VA loan and the buyers who are veterans
can use their own entitlement to qualify for any assumption loan.
• Non-Veterans can assume a VA loan if the seller is willing to leave
their VA entitlement with the property.
• Buyers must occupy the home within 60 days of settlement when
they are using their own entitlement.

• VA assumption loans can take 30 – 60 days from the date of a ratified
contract.
• VA Guidelines require that lenders approve an assumption loan
within 45 days of a ratified contract.

• VA charges a flat assumption fee of 0.5% of the loan balance to
buyers (waived for disabled veterans & surviving spouses)
• Lender may also charge a fee depending on region.

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If you are interested in learning more about the keys to a successful assumption loan, please contact me to go over the process in more details.

Veteran Affairs

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