Hello all, I am curious about if you have any ideas on how to speed up VA Loan assumption timelines as I head into my first home purchase. Currently all over the internet, VA Loans are presumed to take 60-90 days to assume and close on a property, where as conventional loans take an average of 45 days, according to ICE Mortgage Technology. Meanwhile, VA loan assumptions are becoming more and more popular according to Assumable mortgages grow in popularity, but hurdles remain – HousingWire . but because lenders don't earn as much money on an assumption, they tend to be put on the backburner in favor of conventional loans or initiating a new one. Needless to say this longer time to close results in sellers preferring non-assumable options. I have experienced this myself.

    I currently am interested in assuming a loan on a property and putting in an offer. My question to the group is: How can I speed this up? What if I put in an application for an initial VA loan to the lender, get pre-approved that way? Certainly they would process this faster. Then could requesting an assumption later speed up the approval process? Or, has anyone tried to offer money to the lender to speed up the application timeline? Thank you all!

    Tricks to Speed Up VA Loan Assumption Timelines
    byu/DoubleToTheRear inMilitaryFinance



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