Encore Series – VAGap

Assume the Seller’s VA First Mortgage

• Buyer takes over the seller’s VA loan at its original interest rate and terms
• Seller’s loan servicer processes the assumption
• Servicer manually qualifies the buyer for income, credit, and VA guidelines

Entitlement Options:

• Substitute buyer’s VA entitlement
• OR keep seller’s entitlement tied to the loan with written approval

Finance the GAP

When the seller’s loan balance is lower than the purchase price, a “gap” is created.
VA GAP financing covers this difference at closing.

Features:

• Interest‑only options
• No prepayment penalties
• Flexible repayment at the buyer’s pace
• Eliminates the need for large cash‑to‑close

Key Advantages for Veteran Buyers

• Exceptionally low rates through VA assumption
• Reduced cash‑to‑close by financing the gap
• Flexible payment structure, including interest‑only
• Preserves liquidity for improvements or savings
• Entitlement flexibility for long‑term planning

GNB Mortgage Honors Those Who Serve

No lender fees on VA loans. Helping veterans and service members keep more of what they’ve earned.

The VA GAP Solution offers veteran buyers an efficient way to secure below‑market VA rates while minimizing upfront cash requirements. By combining a VA Assumption with flexible VA GAP financing, it streamlines the purchase process and supports a more stable, cost‑effective path to homeownership.