VA Home Loan Assumption
Videos feature Tim Lewis, VA Loan Team Manager, NMLS #157603.
When someone assumes my VA loan, is my name removed from the loan?
The burning question many have about VA loan assumption is whether the seller's name is removed from the loan after closing. The simple answer is YES. When a VA mortgage is assumed, the original borrower's name is removed from the loan and the seller's name is replaced with that of the buyer's. The buyer then assumes responsibility for making payments. And, the seller's credit is no longer tied to the loan.
For all the details on VA loan assumption, contact a VA mortgage professional.
Back to VA Loan FAQ's
