VA mortgage question -

The short answer is yes.. All VA loans are assumable.. however, the person assuming the loan must qualify.. and until the loan is paid off, you will have reduced entitlement due you If you choose to pursue another home using VA financing.. As far as the family member, they would have to produce all the documents as if they were applying for a loan through a lender.. tax returns, pay stubs, w2's, bank statements.. everything.. just as you did when you purchased the home.. VA loans are Assumable WITH fully qualifying, they are not assumable without qualifying.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Sure, WIlliam gave you a good outline of the process and drawbacks to this type of transaction. They would appy through the company you make your mortgage payments to. Also, if you are willing to "gift" them all or part of any equity in the home, there may be other ways to structure the loan that would not tie up part of your VA entitlement. pdumouchel@primelending.com

Short answer: yes. If you never expect to finance VA in the future, the family member can just take over the payments. There is some risk, as your credit rating remains with the loan.

Yes, there are a few things that are important that you'd need to know. But short answer is yes since VA loans are assumable. Give us a call if you need assistance 800-446-9043 ext 801