What is a VA Assumable Loan ?

A VA assumable loan refers to a mortgage loan that is backed by the Department of Veterans Affairs (VA). It can be assumed by another eligible borrower. When a VA loan is assumable, it means that a new buyer can take over the existing loan and assume responsibility for its terms and conditions.  In a typical home sale, the buyer secures their own financing by applying for a new mortgage with whatever bank they choose. However, with an assumable VA loan, the buyer has the option to assume the existing loan of the seller. This assumes they meet certain eligibility criteria set by the VA. This process is done with the bank that is servicing the current loan. Assuming a VA loan can be advantageous for the buyer because they may be able to take advantage of the existing loan’s favorable terms, such as a low interest rate or a […]

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Are You Getting the Most House for Your BAH?

Are You Getting the Most House for Your BAH

Home buying is such as important endeavor for families and individuals.  It is such a huge financial move that you want to make sure you are on the right side of things when you pick that perfect starter home or forever dream home. I remember my experience buying our first home, and MAN what an experience that was.  I will write a whole separate post on that journey.  However for now, I took to the experts to get all the best tips on buying your first or next home. Tips to Ensure You are Getting the Best Deal Tips from Realtor Lauren Taylor 1. Start with Virtual House Hunting. Ask your Agent what type of tools they use to facilitate long distance house hunting. Our buyers benefit from house hunting for months prior to when them arriving at their new duty station. It’s saves homebuyers time and money in the […]

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