Assumptions

Finding Listings, Vetting the Numbers, and Covering the Gap

Assumable VA Mortgage Listings: Where to Find Them and How to Vet Each One

Written by: Matt SchwartzNMLS#151017Written by: Matt Schwartz (NMLS 151017)

Reviewed by: Kenneth Schwartz, Loan OfficerNMLS#1001095Reviewed: Kenneth Schwartz (NMLS 1001095)

Updated on September 30, 2026

Primary sources:
VA.gov Funding Fee & Closing Costs

38 CFR 36.4303

38 CFR 36.4313

There is no centralized MLS or VA database for assumable VA mortgages. You have to search multiple platforms, filter MLS listing remarks, or contact homeowners directly. This page covers where those listings appear, the five numbers you need from each one before you make an offer, and how the equity gap, funding fee, and second-lien math work.

Next step:
Check Your VA Loan Eligibility

Three Listing Types

Advertised as assumable: VA loans committed after March 1, 1988 are assumable by statute. 38 USC 3714(f)(1)(A)
Flagged as likely assumable: Platforms like Assumable.io and AssumeList identify active listings whose loan characteristics match a VA, FHA, or USDA loan. Assumable.io; AssumeList (fetched Sep 30 2026)
Off-market: The homeowner has not listed the property. Assumable.io's premium tier offers access to listings "before they go public" and unlisted assumable homes. Assumable.io (fetched Sep 30 2026)

5 Numbers Before You Offer

Remaining balance: The amount you will assume. Confirm it is current with the servicer. Circular 26-23-10 sec. 3(a)(2)
Note rate: The note's terms carry over as written, rate included. 38 USC 3714(a)(1)(B)(i)
Remaining term: How many months are left. A shorter term means higher payments but faster payoff. 38 USC 3714(a)(1)(B)(i)
Cash gap: List price minus balance, plus the 0.5% funding fee. VA.gov fee table, eff. Apr 7 2023
Second-lien payment: If you cannot cover the gap in cash, the second lien's monthly cost changes the math. Circular 26-24-17 sec. 3(e)

Regulatory Basics

Assumable by statute: VA-guaranteed loans committed on or after March 1, 1988 are assumable with holder or VA approval. 38 USC 3714(f)(1)(A)
Processing deadline: Holders with automatic authority must decide within 45 calendar days of a complete application. 38 CFR 36.4303(l)
Funding fee: 0.5% of the assumed balance, paid in cash at closing. It cannot be financed into the loan. 38 CFR 36.4313(e)(2); Circular 26-23-10 sec. 3(a)(5)
Processing fee cap: Not to exceed the lesser of $300 and the actual cost of any credit report (automatic authority) or $250 plus credit report cost (prior approval). A locality variance may apply if the assumption closes. 38 CFR 36.4313(d)(8); Circular 26-23-10(f); Circular 26-24-05

Seller Entitlement Impact

Veteran buyer substitutes entitlement: The seller receives a restoration of entitlement. Circular 26-23-10(e)
No substitution: The seller's entitlement stays tied to the loan until it is paid in full. Circular 26-23-10(d)
Form 26-10291: The servicer has the seller sign this form acknowledging the entitlement impact. Circular 26-24-9; Form 26-10291

Asked First

The Bottom Line Up Front

VA-guaranteed loans are assumable with holder or VA approval. The buyer inherits the seller's note rate, remaining balance, and remaining term. The equity gap between the list price and the balance must be covered in cash or secondary financing, plus a 0.5% funding fee paid at closing. Holders with automatic authority must process a complete application within 45 calendar days.

The challenge is not the regulation. It is finding a listing where the rate spread justifies the gap cost and the closing timeline. Five platforms now aggregate assumable listings, each with different coverage and verification levels. This page catalogs them, walks through the vetting math, and links to the full assumption rules for everything beyond the listing search. 38 USC 3714(a)(1)(B)(ii); 38 CFR 36.4303(l)

Where Assumable VA Listings Appear

Listings show up in three ways, and you need to search all three to cover the market.

Active and advertised as assumable. The listing agent names the VA loan and the rate in the MLS remarks field. Ask your agent to search for "assumable," "VA assumption," "VA loan," or "below-market rate" in listing remarks. Not every MLS supports keyword search in remarks, and many listing agents do not mention it.
Active and flagged as likely assumable. Platforms like Assumable.io and AssumeList identify homes with VA, FHA, and USDA assumable mortgages from active MLS data and display approximate loan balance, interest rate, and current payment even when the listing agent does not mention it.
Off-market. Homeowners who have not listed the property but have VA loans. Some platforms offer premium tiers that surface these. Direct outreach near Military installations is another channel.

MLS keyword list for agents

"assumable"
"VA assumption"
"VA loan" + "below market"
"low rate" + "assumable"
"assumption eligible"
"take over mortgage"

Run each term against the remarks field, not the general description. Remarks are agent-to-agent and more likely to contain assumption details.

Platform Comparison

Platforms last checked: September 30, 2026

Assumable mortgage platforms comparison (September 30, 2026)
Platform	Loan types	Active / off-market	Rate, balance, gap shown	Verification	Cost	Coverage
Assumable.io	FHA, VA, USDA	Both	Filter by rate, balance, payment	Lender-verified (premium)	Free basic; $19/mo premium	All 50 states
AssumeList	VA, FHA, USDA	Both (off-market for agents)	Approximate balance, rate, payment	Not stated	Free with agent; $29/mo buyer	25 states + D.C.
UMe Projects	FHA, VA, USDA	Not stated	Verifies rate, balance, term	Loan verified with servicer	Free for sellers; buyer not stated	Not stated
Roots	FHA, VA, USDA	Active MLS	Rate, down payment, payment	Pre-qualifies buyer before offer	Free with Roots agent; 1% with external agent	AZ, CA, CO, NV, TX
VAssumable	VA only	Active	General rate range	Not stated	Not stated	13 metro areas

No platform guarantees that a listing is actually assumable. The servicer is the only party that can confirm the loan is current, the assumption is permitted, and the buyer qualifies. Treat platform data as a lead, not a commitment.

5 Numbers to Get Before You Offer

Before you write an offer on any listing, get these five numbers from the listing agent, the platform, or the servicer directly.

Remaining balance. The principal balance you will assume. Confirm it is current with the servicer.
Note rate. The note's terms carry over as written, rate included. 38 USC 3714(a)(1)(B)(i)
Remaining term. How many months are left on the loan. A 25-year remaining term is not a new 30-year loan.
Cash gap. List price minus remaining balance, plus the 0.5% funding fee if you are not exempt. This is what you need in cash or secondary financing at closing. VA.gov fee table, eff. Apr 7 2023; Circular 26-23-10 sec. 3(a)(5)
Second-lien payment. If you plan to cover part of the gap with a second mortgage, the combined assumed P&I plus second-lien P&I is the real number to compare against a new 30-year loan. Circular 26-24-17 sec. 3(e)

Verify Before You Offer

Confirm the loan is VA-guaranteed and is current on payments. Circular 26-23-10 sec. 3(a)(2)
Ask the servicer for the current payoff balance and note rate.
Confirm the remaining term in months.
Calculate the equity gap: list price minus confirmed balance.
Add the 0.5% funding fee to your cash requirement (or confirm your exemption). 38 USC 3729(c)(1)
If using a second lien, confirm the servicer will accept secondary financing in junior lien position. Circular 26-24-17 sec. 3(a)
Build at least 45 calendar days into your purchase contract for servicer processing. 38 CFR 36.4303(l)
Read the full assumption rules at How VA Loan Assumptions Work.

Two Listings, Two Outcomes

Both examples below use the Assumable Listing Analyzer above. Enter the numbers yourself to see the full breakdown.

Strong assumption: small gap, large rate spread

List price: $375,000. Assumed balance: $340,000. Note rate: 3.25%. Remaining term: 26 years.
Cash available: $40,000. Not exempt. Comparison rate: 7.00%.
Equity gap: $35,000. Funding fee: $1,700. Cash needed: $36,700. No second lien needed.
Assumed P&I: $1,615.63. New 30-year P&I at 7.00% on $335,000: $2,228.76.
Monthly payment difference: +$613.13 in your favor. Five-year P&I difference: +$36,788. VA.gov fee rate (0.5%) · calculated at 3.25%, 312 months

Weak assumption: large gap, expensive second lien

List price: $450,000. Assumed balance: $280,000. Note rate: 4.25%. Remaining term: 23 years.
Cash available: $50,000. Not exempt. Second lien at 8.50% for 15 years. Comparison rate: 7.00%.
Equity gap: $170,000. Funding fee: $1,400. Cash needed: $171,400. Second lien needed: $121,400.
Assumed P&I: $1,591.51. Second-lien P&I: $1,195.47. Combined: $2,786.98.
New 30-year P&I at 7.00% on $400,000: $2,661.21.
Monthly payment difference: -$125.77 (the assumption costs more). Five-year P&I difference: -$7,546. VA.gov fee rate (0.5%) · calculated at 4.25%, 276 months

The weak example saves on the first-lien rate but the second lien at 8.50% erases the advantage. A cheaper second lien or more cash at closing would change the result.

The Assumption Process

This page covers finding and vetting the listing. For the full process, qualification standards, entitlement impact, and appeal rights, read How VA Loan Assumptions Work. The summary below covers only the steps directly tied to the listing search.

Find and verify the listing. Confirm the loan is VA-guaranteed, current, and the numbers match what the platform or agent advertised.
Run the math. Use the Assumable Listing Analyzer above or your own spreadsheet. If the combined payment exceeds a new loan at current rates, the assumption does not save you money.
Make an offer with an assumption contingency. Your purchase contract specifies financing through assumption, not a new loan. Allow at least 45 days for servicer processing. 38 CFR 36.4303(l)
Apply with the seller's servicer. Full credit and income review. The servicer underwrites you to the same standard as a new VA borrower. 38 USC 3714(a)(1)(B)(ii)
Pay the funding fee and processing fee at closing. The 0.5% funding fee is paid in cash and cannot be financed into the assumed balance. The processing fee is capped at $300 for automatic-authority holders. 38 CFR 36.4313(d)(8); Circular 26-23-10 sec. 3(a)(5)

Non-Veteran Buyers

Any creditworthy buyer can assume a VA loan; you do not need to be a Veteran. If you are not a Veteran, the seller's entitlement stays tied to the loan until it is paid in full. For the full entitlement impact and substitution rules, read Can a Non-Veteran Assume a VA Loan. Circular 26-23-10(d)-(e); Form 26-10291

Covering the Equity Gap

The equity gap is the difference between the list price and the remaining loan balance. You cover it with cash, a second mortgage, a HELOC, or seller-carried financing. Since August 2024, VA Circular 26-24-17 authorizes secondary financing on assumptions in junior lien position. The second lien's monthly payment must be included in the buyer's debt analysis. For the full secondary-financing rules, CLTV guidance, and structuring options, read VA Assumption Gap Financing. Circular 26-24-17 sec. 3(a), 3(e)

Funding Fee Exemptions

The 0.5% assumption funding fee is waived if you meet any of these conditions: 38 USC 3729(c)(1); VA.gov

You are receiving VA compensation for a service-connected disability.
You are eligible for VA compensation but are receiving retirement or active-duty pay instead.
You are a surviving spouse receiving Dependency and Indemnity Compensation (DIC).
You are a service member with a proposed or memorandum disability rating before closing.
You are an active-duty service member who provides evidence of a Purple Heart on or before the closing date.

Frequently Asked Questions

Can you assume a VA loan if you are not a Veteran?

Yes. Any creditworthy buyer can assume. If you are not a Veteran, the seller's entitlement remains tied to the loan until it is paid off. Veteran buyers can substitute their own entitlement, freeing the seller's. 38 USC 3714(a)(2); Circular 26-23-10(d)-(e)

How long does a VA loan assumption take?

Holders with automatic authority must decide within 45 calendar days of receiving a complete application. Holders without automatic authority must submit the package to VA within 35 calendar days, after which VA has 10 business days to decide. Real-world closings can take longer due to title, appraisal, and secondary financing coordination. 38 CFR 36.4303(l); Circular 26-23-10 sec. 3.b(3)

What is the funding fee on a VA loan assumption?

The VA charges 0.5% of the remaining balance being assumed. On a $300,000 balance, that is $1,500. The fee is paid in cash at closing and cannot be financed into the loan balance. 38 CFR 36.4313(e)(2); Circular 26-23-10 sec. 3(a)(5)

How do you cover the equity gap in an assumption?

Cash, a second mortgage, a HELOC, or seller-carried financing. Since August 2024, Circular 26-24-17 authorizes secondary financing in junior lien position on assumptions. The second lien's payment must be included in the buyer's debt-to-income analysis. Circular 26-24-17 sec. 3(a), 3(e)

What is the processing fee cap on a VA assumption?

The fee may not exceed the lesser of $300 and the actual cost of any credit report required for automatic-authority holders, or $250 plus credit report cost for prior-approval assumptions. A locality variance based on the property's location may also apply. 38 CFR 36.4313(d)(8); Circular 26-23-10(f); Circular 26-24-05

Can you assume a VA loan that is in forbearance?

The loan must be current at or before the close of the assumption. It may be brought current through cash at close, but it may not be brought current through a loan modification unless the assumption is required by a divorce decree or the assumer is obtaining the property on the death of the borrower. Circular 26-23-10 sec. 3(a)(2)

Does an assumption restart the loan term?

No. You inherit the seller's remaining term exactly as it stands. If the seller has 24 years and 6 months remaining, that is your payoff timeline. A new 30-year term is never created. 38 USC 3714(a)(1)(B)(i)

Can you use secondary financing to cover the equity gap?

Yes. Since August 2024, VA Circular 26-24-17 authorizes secondary financing on assumptions. The second lien must be in junior position, and the monthly payment must be included in the buyer's debt analysis. Circular 26-24-17 sec. 3(a), 3(e)

What happens if the servicer denies the assumption?

The assumer or seller may appeal the disapproval to VA within 30 calendar days from the notification. If no appeal is filed within 30 days, the holder may demand immediate, full payment of the principal. Circular 26-23-10 sec. 3.b; 38 USC 3714(a)(4)(C)

Does the seller get a release of liability after the assumption?

Release of liability and entitlement restoration are separate. The seller should request a release so the VA does not hold them responsible if the buyer later defaults. Entitlement restoration requires the buyer to be a Veteran who substitutes their own entitlement. Without substitution, the seller's entitlement stays encumbered until the loan is paid off. 38 USC 3714(a)(1); Circular 26-23-10(d)-(e)

How We Researched This Page

The assumption statute (38 USC 3714), regulations (38 CFR 36.4303, 36.4313), and VA Circulars 26-23-10, 26-23-27, 26-24-05, 26-24-17, and 26-24-9 were pulled from the VA circular library, eCFR, and the U.S. Code via law.cornell.edu and uscode.house.gov. Fee rates and exemption categories were verified against the VA.gov funding fee page (effective April 7, 2023). Each platform in the comparison table was fetched directly on September 30, 2026; the table records only what each platform's own site states. Computed figures in the two listing examples use the same amortization formula as the Assumable Listing Analyzer, sourced from the shared VA Loan Network amortization library.

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