Sell your home
Market an assumable loan responsibly
Confirmed facts only.
5 minute read
Say only what is confirmed
- Advertise assumability only after the servicer confirms it. Share confirmed facts such as the balance and rate.
- Assumption approval is handled by the servicer or loan holder, not by you or your agent.
Source: VA Circular 26-23-10: VA Assumption Updates; VA Form 26-8978: Rights of VA Loan Borrowers
Avoid promises
- Do not promise buyer approval, payment savings or a closing timeline. Buyers must qualify and the equity gap still needs a plan.
Source: VA Circular 26-23-10: VA Assumption Updates; VA Circular 26-24-17: Secondary Borrowing on Assumption Transactions
Sources
Official material this lesson draws on. Vanguard's explanation is educational; current official requirements govern.