Question

Under current Regulations, a U.S. department of Veteran Affairs (VA) loan is assumable if:

A. The VA approves both the buyer and the assumption agreement
B. the veteran agrees not to request a releases of liability for repayment
C. the VA approves the buyer only
D. the VA approves the assumption of the agreement only

Answer 1

Under current regulations, a VA loan is assumable if the VA approves both the buyer and the assumption agreement.

Step-by-step explanation:

The question pertains to the assumption of a U.S. Department of Veteran Affairs (VA) loan. Under current regulations, a VA loan is assumable if: A. The VA approves both the buyer and the assumption agreement. This means that for someone to take over a VA loan from another, the VA must approve not just the person assuming the loan (the buyer), but also the terms under which the loan is assumed (the assumption agreement).