An assumption transfers the seller's existing loan — rate, balance, and term — to you. When that loan was written in 2020 or 2021, the rate advantage is enormous.
The catch is the gap: you cover the difference between the sale price and the remaining balance in cash or with a second lien. That is the number to underwrite first.
Entitlement matters too. If you're a VA-eligible buyer assuming from a VA seller, the seller's entitlement can be restored. If you're not, the seller's entitlement stays tied up until the loan is paid off.
Servicer timelines run 45–90 days. Build that into your offer and your PCS calendar, and negotiate a per-diem credit if the servicer drags.
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The five-step process for finding and closing a VA assumable home on Oahu — from spotting the listing to surviving the servicer.
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