Can a Va mortgage loan be transferred?

UPDATED: Sep 30, 2022

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Can a Va mortgage loan be transferred?

My neighbor wants to transfer his loan
to us without no strings he doesn’t want
nothing in return he just wants to
transfer it to us but we keep running into
problems what is needing to be done
and how is it expensive

Asked on August 1, 2017 under Real Estate Law, Texas


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

The question will be answered by the mortgage paperwork: a mortgage may be assigned (transferred) unless there is some clause or provision or term in the mortgage which states it cannot be. Most mortgages have provisions which disallow transfer, so I would be surprised if this mortgage does not have such a restriction, but review your neighbor's mortgage paperwork to be sure. If it can be transferred, it can likely be done for a few hundred dollars of legal fees (to make sure everything is done right), unless the mortgage itself requires some fee(s) for such a transfer--which is another reason to check what the mortgage says.

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