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Contributor

Hello,

      I am in the process of buying a home. We have put an offer in on a house. Come to find out the seller is also a USAA member who got his mortgage through USAA, and he mentioned we could assume his VA loan. This evening I contacted the mortgage department and was told this would not be an option, as USAA does not offer this service. Is this true?

 

     Does USAA allow/facilitate their VA loans to be assumed by a seller? If not, why not? It is a great benefit of the VA loan that would save us a lot on closing costs and allow us to lock in his lower rate, which is no longer available to us with the current interest rates.

2 REPLIES

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PT3, thanks for posting on our Member Community site and I appreciate the opportunity to have your situation reviewed. I'm engaging my colleague in the bank to reach out to you. -Paula

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PT3,

 

Thank you for posting in the Community. An assumption might be an option. However, we would need to confirm some additional information in order to proceed. Please contact a mortgage specialist at 210-531-USAA (8722) in order to discuss your options. We look forward to the opportunity to assist you with your mortgage needs. -Gus