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Updated almost 7 years ago on .

User Stats

31
Posts
9
Votes
Kate Moreland
  • Realtor
  • Fort Worth, TX
9
Votes |
31
Posts

Loan assumption contract

Kate Moreland
  • Realtor
  • Fort Worth, TX
Posted

Hi All,

We're working through assuming a friend's VA loan and so far so good. The assumption package provided by the current mortgage holder is fairly straight forward except that it states we need a "sales (assumption) contract between seller and buyer." I naively thought this was what the packet was, as it is quite comprehensive, and for a regular purchase, it's all part of the general paperwork.

Is there a form I can find for this, or do we need to find a lawyer and get an official contract done?  Our friend's are slight procrastinators, and the mortgage company is exceedingly unhelpful, so I'm trying to get this done as simply and as expedited as I can...  Any advice or links to reliable sales contracts?  Unfortunately I don't have my license yet so the TREC forms are out.

Thanks!