Hunting down VA Loan assumption??

[Chris Martinez]

Hey everyone! Finally took the plunge and decided to post on here. BLUF: Does anyone have any good tricks to find properties that have VA/assumable loans? I've tried searching "loan" "assumption" or "VA" on Zillow with mild success, and my realtor is finding like 1 property a week which doesn't seem like nearly enough based on living in the DC area.

Also, I currently have 2 VA loans on other properties, and have determined for Fairfax county I have about $400k of eligibility remaining. Am I able to assume a $600k VA loan if I put $40k down? (and obviously pay the appreciation)

[Russell Brazil]

Quote from @Chris Martinez:

Hey everyone! Finally took the plunge and decided to post on here. BLUF: Does anyone have any good tricks to find properties that have VA/assumable loans? I've tried searching "loan" "assumption" or "VA" on Zillow with mild success, and my realtor is finding like 1 property a week which doesn't seem like nearly enough based on living in the DC area.

Also, I currently have 2 VA loans on other properties, and have determined for Fairfax county I have about $400k of eligibility remaining. Am I able to assume a $600k VA loan if I put $40k down? (and obviously pay the appreciation)

At a given time there is 1, sometimes 2 properties for sale in the DC area that has an assumable VA loan.

In order to buy one, youll need several factors to come into play.

1) The property will need to be overpriced, thus sitting on the market without offers. You will not be able to assume a loan on a well priced property as that will have multiple offers and sellers will not want to deal with the assumption due to the timeline.

2) You're going to need to willingly overpay for the property. 

Ive done 3 assumptions this year, and that was the case on all 3.