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Real Estate
Reply to "VA Assumable Loan as a Civilian"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Any civilians in this forum ever assume a VA Loan? What was the process like for you and would you recommend it?[/quote] How is this possible when civilians aren’t eligible for VA loans? Can it be changed to an FHA loan?[/quote] It can’t be changed. VA loans can be assumed by civilians but then the veterans loses their eligibility until it is paid off. We offered a house with an assumable 2.75% loan last summer. We got an offer wanting to assume our loan for $100k under. It honestly only seemed to attract people looking for a real bargain where the rate could keep their mortgage payment low and it could stretch them further. We ended up not transferring it to anyone. [/quote]
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