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Can I assume my dad's mortgage payments on a VA loan and move in?

by marquisdejolie999 from Shreveport, Louisiana. Mar 7th 2021 Reply


Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,300 contributions

Unless you have VA loan Benefits, the answer is no. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in AZ, CA, GA, IL, OR & WA... In fact, NEXA is licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.

Mar 7th 2021
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,409 contributions

Maybe. You can't just take over payments. There is a process. As per the rules, for any VA home loan that had been closed post 1st March 1988, the assumption will need the approval of both the lender as well as the VA. To begin the process, the owner of the house and mortgage needs to put in the request for assumption package via the current lender. An important aspect of this is that the original owner must request for release from the liabilities of this loan from the Veterans Affairs. This is known as "assume with qualifying" - If YOU are a VET yourself, you can take over and replace the current Vets eligibility with your own. As you need approval from the VA and the lender, many times they simply say no, and get your own loan. I lend in MN WI IA SD ND. Find me at VAMortgageMN.com - Cambria Mortgage, NMLS 274132

Mar 10th 2021
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Greg Bleyl (GregBl)
#59 ranked lender in Ohio - 22 contributions

Perhaps and if you run into problems with that does your Dad live in that house and could you purchase it from him? Feel free to call/text 216-496-0211

Mar 23rd 2021
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