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Is every VA loan assumable?

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Anonymous
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Is every VA loan assumable?

We recently purchased our house with the VA Home Loan with a 5% interest rate. We were informed that when we decide to sell the house, the buyer could assume the 5% interest rate. Is this common for every VA loan? If not, it is a good selling point if rates are higher then 5% at the time? Thank you for your help!

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MarineVietVet
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Re: Is every VA loan assumable?

 


@Anonymous wrote:

We recently purchased our house with the VA Home Loan with a 5% interest rate. We were informed that when we decide to sell the house, the buyer could assume the 5% interest rate. Is this common for every VA loan? If not, it is a good selling point if rates are higher then 5% at the time? Thank you for your help!


 

VA-backed loans are assumable, as long as the person assuming the loan qualifies.

 

I found that here: http://www.homeloans.va.gov/lp.htm

 

 

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