Assumability did factor into my decision to go with a VA loan. (Incidentally a non-veteran can apply to assume a VA loan, but the original borrower won’t be able to take out another one until the first loan is paid off.)
I remember the early ’80s when real estate ads touted the availability of assumable FHA or VA loans — no big deal when interest rates rose into double digits. But the way I see it assumability is most useful if you’re forced to sell within the first few years of ownership. Otherwise you need a buyer who can bring cash or can finance the difference. Those aren’t easy things to come by these days …
