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Transferable VA Mortgage

How can I transfer my mortgage without changing my rate? My sister is taking over my payments but wants to build her credit history. She is 27 and has FIOC of 689 and makes $89,000 per year. she dosnt really have any credit other than student loans she is paying back. I don't want to loose my rate 3.13% 30-year VA loan. by glendafrivers66335 from Daytona Beach, Florida. May 22nd 2018 Reply


Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#2 ranked lender in Florida - 2,239 contributions

You need to contact your mortgage company that you currently have. Most likely they will require your sister to qualify for the mortgage on her own merits. The score is good enough to qualify but again you need to go to your current mortgage company and find out their policy.Good luck!

May 23rd 2018
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,486 contributions

She can assume the loan, but she/you need to contact your current lender directly.. she will need to credit qualify and have sufficient income based on underwriting standards.. Understand that the loan will tie up your VA eligibility, so depending on the current loan amount, you might not have enough eligibility left to purchase another home until your sister pay's off or pay's down the assumed loan. this is assuming your sister is not a veteran, if she is, then she can use her eligibility to release your's. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

May 23rd 2018
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