Assumable loans with qualifying - Posted by Darrell

import · April 21, 2006, 4:15pm

Posted by Darrell on April 22, 2006 at 11:19:26:

According to an interesting book I am reading, “106 Mortgage Secrets all Homebuyers must Learn”, it says, on page 60, …“Generally, sellers who have financed their properties with FHA, VA or most types of adjustable rate mortgages can offer an assumption to their buyers.” It goes on to say, “True, buyers do have to qualify to assume these loans.”

I am attempting to verify this information. Is anyone assuming any of these loans with qualifying? Or, is the book incorrect? Thanks!

import · April 21, 2006, 4:15pm

Assumable loans with qualifying - Posted by Darrell

Posted by Darrell on April 21, 2006 at 16:15:47:

Are all new VA, FHA loans, and most ARMS’s assumable with qualifying? If so, is it a paper and time consuming process? Thanks

import · April 21, 2006, 9:11pm

Re: Assumable loans with qualifying - Posted by GMann

Posted by GMann on April 21, 2006 at 21:11:41:

Very few if any residential loans are assumable anymore regardless of type. Went away in the 70-80s.