An assumable mortgage is one in which the outstanding loan balance and terms are transferred from the current owner to a new buyer. The new buyer assumes the previous owner’s debt which means the buyer doesn't have to get a new mortgage. Are VA Loans Assumable? The short answer is yes...
LendSmart is a trusted mortgage company and home loan lender in doing business in over 23 states. We provide conventional, FHA, VA, USDA Loans.