VA Loans are assumable too!

VA Loans are assumable.

Government loans such as USDA, VA, and FHA all are “assumable” loans.  If you have one of these types of loans on your home, a buyer can “assume” your Promissory Note and Rate if the new buyers qualify.  These assumptions will be a selling option that will make your home more attractive to buyers.  This will pay off if you plan on selling or moving in the next 5-10 years.  After the last (mini) Bank “bailout” in the early 80’s, rates were as high as 17%.  If someone who qualifies wants to purchase your home and qualifies, the buyer could potentially get your rate for the remainder of the loan term and retain the low mortgage rate we are locking in for you.  Call me to see where rates are now.

CATEGORY: VA Loans

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