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17 hours ago, Fly4five said:

Gotta ask, has anyone done a VA loan assumption and had success?

Sent from my SM-S918U1 using Baseops Network mobile app
 

Doing one right now. Originally tried to close in 30 days and I'm already way past that...but that was mostly because the lender didn't have their shit together and was extremely disorganized paperwork wise.

Otherwise, it's definitely the way to go these days. I got a condo at 3.5% and my buddy just got house at 2.75%.

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Assumptions are the best deal out there if you have the time and money to cover the gap between their balance and the purchase price.  Mortgage servicers don’t staff their assumption departments well because there is not any money in it for them which is why it takes a long time.  I know many of my past clients who have done assumptions but the story is always the same…takes way longer than you’d like, lack of communication/updates, and paperwork can be disjointed.  It’s worth it in the end but keep your expectation level low going into it.  Once you get into underwriting then the pace picks up.

If it doesn’t work out we’re always here to help with a new loan and then we’ll do a no cost streamline refi for you next year as rates come down.

Good luck!

Jon

https://tridenthomeloans.com/jonathan-kulak/

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  • 1 month later...

Wanted to pass a quick update since we’re entering the winter PCS season and there has been a lot of rapid improvements in the economy recently.  Right now VA rates have come down fast out of the mid 7s to the low 6s and will be entering the upper 5s. 

Reach out if:

  1. you’re looking to buy and want to take advantage of our industry leading rates/no lender costs
  2. you’re under contract to buy at a 6.5% rate or higher you could still swap to use to get the lower rates and we can get the VA appraisal transferred over to avoid cost/closing delays. 
  3. you already closed with a rate above 6.5% already and have made a few payments to do our no cost refi program where you don’t finance any extra principle into the loan cause we pay for the third party costs.

 

The federal reserve announced yesterday 3 predicted rate cuts in 2024 but market futures expect 4-5.  The fed is also estimating 4 in 2025 and 3 more in 2026 so rates will continue to decline and we can refinance you for free every 7 months without adding any cost or you having a refi breakeven point.  Everyone will be refinancing so even if now isn’t the time don’t forget to get on my radar.  We’ve done this no cost multiple refi strategy for years and it works out great for both you guys and for us.  Our baseops clients helped build our business to a national leading lender over the years so I will always make sure you get treated the best.

 

Happy to chat about anything/anytime (mortgages, real estate, airlines, or Cat E PIRR CAP-USAF jobs).  Link to my website and also to our no cost refi program below.

 

Merry Christmas!

Jon

Cell: 850-377-1114

jk@mythl.com

https://tridenthomeloans.com/jonathan-kulak/ 

No cost streamline refi: https://tridenthomeloans.com/irrrl/

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  • 2 weeks later...
On 12/14/2023 at 10:34 AM, Jon - Trident Home Loans said:

Wanted to pass a quick update since we’re entering the winter PCS season and there has been a lot of rapid improvements in the economy recently.  Right now VA rates have come down fast out of the mid 7s to the low 6s and will be entering the upper 5s. 

VAs are now in the upper 5s with no discount points or lender fees.  Hit me up if you are purchasing soon or want to take a look at a no cost refi.

Happy New Year!

Jon

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  • 2 weeks later...
2 minutes ago, Smokin said:

How about land loans?  I'm considering buying 20-80 acres of land and then building with cash.

We only lend on existing or new construction homes based on how we’re setup but land loans are definitely available through banks/credit unions.  Usually 20% down on them.  
 

Market definitely continues to get more favorable.  Reach out if you’re PCSing this summer or bought with a high rate.
 

Jon

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