does anyone out there know the best way to locate sellers that have VA mortgages? would a person go to a title company to find something like this? i’m wondering b/c those seem to be about the only mortgages that are assumable, banks don’t really like to lend me $$. thanks to those who know something about it
The VA doesn’t give out mortgages, they just guarantee them…
As far as assumability (from the FAQ at http://www.homeloans.va.gov/faqpstln.htm):
Q: Does having a VA loan limit a veteran’s right or ability to sell the property?
A: No. A veteran may sell the property to a veteran or non-veteran at any time. However, if the loan was closed after March 1, 1988, and it will be assumed, the qualifications of the assumer must be reviewed and approved by the lender or VA.
Keith
thank you very much