question about assuming a mortgage, equity and need to move in.

[Mason V.]

A friend of mine is interested in assuming a VA loan. The remaining loan amount is $104k and the SFH was originally purchased at around $125k. my question is, if the mortgage gets put into his name, does he pay the owner the ~$20k for the equity or does the home owner get nothing?

Also, sense he is not the original debater, would he be required to move into the property or could be immediately start renting it out?