You’re probably aware that your VA loan is assumable and could be an attractive selling point if/when you decide to sell your home especially with the low VA interest rates being locked in today (ie. 2.375% for a 30 year fixed). Did you know that a citizen with no military affiliation can assume your loan? Or that this could be an affordable way for your kids to purchase your home by assuming your mortgage and having some equity already upon purchase?
This is not an everyday transaction; in fact, in my 20+ years as a Realtor in a military market, I have never been involved in a sale where a VA loan was assumed. As with any transaction, there are benefits and risks and it’s essential to work with an experienced lender.
For more information, read Four Common Questions About VA Home Loan Assumption. An excellent article and information to keep in mind if/when the situation arises.