Welcome to our comprehensive guide on assuming a VA loan, tailored for both buyers and sellers to fully understand the VA assumable loan process. This video demystifies each step, ensuring you're equipped to navigate this beneficial but often overlooked option.

What You'll Learn:
1. PreApproval Necessities Discover why getting preapproved is crucial, especially given the high denial rates for assumable mortgages, and what it means to take over a mortgage with its remaining life and balance.

2. Seller's Initial Steps Understand the seller's role in contacting their servicer to initiate the loan assumption process and how you, as the buyer, fit into this equation.

3. Engaging with the Servicer Learn how to effectively communicate with the mortgage servicer, present your financials, and the possibility of securing a second mortgage or HELOC up to 90% CLTV.

4. Underwriting Process for Assumption Get insights into the underwriting requirements, including the need for credit and income qualification, and the advantages like no need for appraisal or termite inspection.

5. Closing Insights Know what happens at closing, including the financial implications and the specifics of what costs you will be expected to cover.

Why Watch:
Speed Up Your Process: Understanding these steps can significantly expedite your assumption process, reducing typical closing times.
Investment Potential: Learn how assuming a VA loan can be a smart investment strategy, applicable for primary residences, second homes, or investment properties.
Save on Costs: Gain crucial insights into how the assumption process can save you money in various aspects of the mortgage transfer.

This guide is invaluable for anyone considering a VA loan assumption, whether you're a firsttime buyer or a seller looking to offer this attractive option. Join us as we break down each step, ensuring you have all the information needed to proceed with confidence.

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► ► Get PreApproved With My Team → https://bit.ly/ApplyToday_VA
► ► Get Your Certificate of Eligibility → https://bit.ly/COEreview

FREE Loan Estimate REVIEW → https://bit.ly/EstimateReview

DISCLAIMER: The content of VA Housing Education at Waterman Bank is meant for educational purposes only. We will not extend credit of any kind without speaking to a loan officer. Any calculations should be verified independently. This website should not directly be used to make decisions on home offers, purchasing decisions, is not guaranteed to provide accurate results, imply lending terms, qualification amounts, or real estate advice. Seek counsel from a licensed real estate agent, financial planner, accountant, and/or attorney for real estate, legal, and/or financial advice. The views expressed on this site and videos are those of the individual author and do not necessarily represent those of Waterman Bank and are not intended to provide legal or compliance advice. VA Housing Education at Waterman Bank is not affiliated with or approved by the VA, FHA or any other government agency. Contact Waterman Bank for your lending needs.