I found a house I like with an existing 2.25% va loan. I plan to pay cash to cover the difference between the homes current value and what remains on the loan. I don’t know what to do from here. Do I need to get a mortgage broker? Do I call the lender of the existing mortgage? Neither real estate agent has been through this process so none of us know what to do. Thanks for any help.
Posted by Otphj5811
2 Comments
The seller needs to contact their mortgage servicer and ask for an assumption package and give it to you
Make sure you have lots of communication with the sellers and lender. It can be a terribly burdensome process, depending on who the lender is