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VA Loan Assumptions Explained | Real Estate News
VA loan assumptions are exploding—jumping from 300+ in 2022 to over 2,000 in 2023—as sellers cash in on low-rate loans and buyers dodge today’s high rates. Contrary to myth, non-veterans can assume these loans, though the seller’s veteran status sticks until paid off. Buyers must cover the difference between sale price and loan balance plus closing costs—a big hit. Expect delays: VA mandates 45 days, but reality often stretches to months due to understaffed servicers with no clear point person. The VA can penalize slow servicers, offering leverage for agents and sellers. Sellers still love…
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