Assumable Mortgages for Investors

[Ryan Thomson]

I'm surprised this isn't being talked about more in the BP forums. VA loans are assumable by investors! When the seller is willing to let their entitlement stay with the house anyone can assume their mortgage. This opens up a lot of opportunities for the seller to get their home sold quickly and maybe for a premium. Has anyone else done deals like this? I closed a couple last year and would love to connect with more people doing this!

[Ryan Thomson]

Quote from @Bradley Buxton:

@Ryan Thomson

I agree these can be a great way to get a low interest rate. We have seen a few of these deals in the Reno and Tahoe, NV area, although they are becoming increasingly rare. While such opportunities still exist, they often require a higher down payment than the standard 20% to bridge the gap between the loan amount and the purchase price. Investors looking to make the minimum down payment may find these deals less viable. Additionally, the buying process for these properties can be considerably longer.

 Thanks for sharing what you are seeing! In Colorado we are seeing a LOT of properties that are much less than 20% down. The process does take about 45-90 days to close, but that extra time is well worth it for the low rate.