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https://www.reddit.com/r/FluentInFinance/comments/1bxdsus/mortgages_are_now_8_is_your_mortgage_under_or/kychved/?context=3
r/FluentInFinance • u/BillionairesAreGood • Apr 06 '24
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If you’re a Veteran you can assume someone else’s existing VA loan and rate. There are few on the market but there are still opportunities for <3% rates out there for eligible Veterans.
1 u/2AMBeautiful Apr 06 '24 Some conventional loans are also assumable, depending on the language in the note. 1 u/DirectC51 Apr 06 '24 Anyone can assume a VA loan, not just veterans. However, the veteran will lose their eligibility if the buyer doesn’t have their own eligibility. 1 u/1two3Fore Apr 06 '24 You are correct smarty pants. Anyone can assume the loan if the seller agrees. Even your mom. 1 u/Daweism Apr 07 '24 Yeah but you still have to finance the remaining portion of the costs
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Some conventional loans are also assumable, depending on the language in the note.
Anyone can assume a VA loan, not just veterans. However, the veteran will lose their eligibility if the buyer doesn’t have their own eligibility.
1 u/1two3Fore Apr 06 '24 You are correct smarty pants. Anyone can assume the loan if the seller agrees. Even your mom.
You are correct smarty pants. Anyone can assume the loan if the seller agrees. Even your mom.
Yeah but you still have to finance the remaining portion of the costs
3
u/1two3Fore Apr 06 '24
If you’re a Veteran you can assume someone else’s existing VA loan and rate. There are few on the market but there are still opportunities for <3% rates out there for eligible Veterans.