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I need a bit of information here. I know as much as I can find about loan assumptions and have consulted with the VA. I have been in my house for about 2 years and am ready to move. My buddy will assume my mortgage (cut down on costs). My only question is this, will he be considered a first time home buyer and get his 8k tax credit? Or since he is assuming a loan is he not considered first time home buyer?

We will be happy to hear your thoughts on VA Loan assumption questions for first time home buyer?

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