Va Form 26 6382 PDF Details

The VA Form 26-6382, officially titled "Statement of Purchaser or Owner Assuming Seller's Loan," serves as a critical document within the processes of the United States Department of Veterans Affairs, particularly for those transactions involving a change in responsibility for a VA home loan. Required to be filled out alongside VA Form 26-6807, the Financial Statement, this form plays a pivotal role when a buyer, especially a veteran, is assuming the loan from the seller and seeks to be released from liability to the government for the loan in question. Moreover, it is instrumental in the process where a veteran purchaser seeks the substitution of entitlement, a scenario that necessitates the completion of another form, VA Form 26-8106. Detailed within this form are sections requiring personal information about the buyer and seller, the terms of the property sale, and a certification by the purchaser acknowledging understanding and agreement to assume all liabilities connected with the loan. This document, bearing an OMB approval number and an estimated respondent burden time, underscores the importance of transparency and accountability while facilitating a smooth transition of loan responsibilities—ensuring that veterans' benefits are protected and properly transferred. Notably, adherence to the form's instructions is critical, as it contains legal obligations surrounding the release of liability and the assumption of loan terms, thereby affecting veterans' entitlements and obligations towards the home loan post-transfer. The form’s expiration and the respondent burden highlight the government's effort to streamline the process while adhering to legal requirements.

QuestionAnswer
Form NameVa Form 26 6382
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesOMB, PURCHASER, 55VA26, Purchasers

Form Preview Example

OMB Approved No. 2900-0111

Respondent Burden: 15 minutes

Expiration Date: 11-30-2016

STATEMENT OF PURCHASER OR OWNER ASSUMING SELLER'S LOAN

INSTRUCTIONS: Please complete this form and the VA Form 26-6807, Financial Statement, and return to the office of the Department of Veterans Affairs shown below. These forms are for submission in connection with the application for release from liability to the Government on a home loan filed with this office by the seller in Item 3 and in connection with an application for substitution of entitlement by a veteran purchaser and the veteran seller. In substitution of entitlement cases, also submit VA Form 26-8106, Statement of Veteran Assuming GI Loan. See reverse for Privacy and Respondent Burden Information.

SECTION I

1.ADDRESS (Complete)

RETURN

TO: VA Regional Office

Attn: Loan Guaranty Officer

2.LOAN NUMBER

3.NAME OF SELLER (First, middle, last) (Type or print)

4. COMPLETE PROPERTY ADDRESS

SECTION II - (To be completed by Purchasers)

5. INFORMATION ON PURCHASERS AND SALE OF PROPERTY

 

A. NAME OF PURCHASER (First, middle, last) (Type or print)

B. NAME OF CO-PURCHASER (First, middle, last) (Type or print)

 

 

 

 

 

 

 

 

 

 

C. ARE YOU A VETERAN OF SERVICE IN THE U.S. ARMED FORCES?

D. ARE YOU A VETERAN OF SERVICE IN THE U.S. ARMED FORCES?

 

 

 

YES

 

NO

(If "Yes", complete Items 5E and 5F)

 

 

YES

 

NO

(If "Yes", complete Items 5G and 5H)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E. SERVICE SERIAL NUMBER

 

F. SOCIAL SECURITY NUMBER

G. SERVICE SERIAL NUMBER

 

H. SOCIAL SECURITY NUMBER

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I. PRICE AGREED ON FOR THE PROPERTY

 

J. PAYMENT OF DIFFERENCE BETWEEN PURCHASE PRICE AND UNPAID BALANCE ON SELLER'S

 

$

 

 

 

 

 

LOAN (Check one)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

THE DIFFERENCE WILL BE PAID (OR HAS BEEN PAID) AT THE TIME PROPERTY IS (WAS)

 

K. IS AMOUNT IN ITEM 5i GREATER THAN THE

 

 

 

 

 

TRANSFERRED BY ME IN CASH WITHOUT BORROWING ANY PORTION THEREOF

 

UNPAID BALANCE ON SELLER'S LOAN?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

YES

 

NO

 

 

 

 

IT WILL BE (OR WAS) NECESSARY FOR ME TO BORROW ALL OR A PORTION OF THE DIFFERENCE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(If checked, complete Items 6A thru 6G)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6. TERMS OF SALE (If additional space is needed, use reverse)

A. AMOUNT OF CASH PAID OR TO BE PAID

B. AMOUNT BORROWED

(Refer to Item 5J)

C. SOURCE OF FUNDS BORROWED

(Name and address)

D. IS (WAS) MORTGAGE OR DEED OF TRUST GIVEN SELLER OR OTHER PERSON?

E. AMOUNT OF OR BALANCE OF MORTGAGE OR DEED OF TRUST

F. SECURITY FOR AMOUNT BORROWED (Refer to Item 6B)

(If other than mortgage or deed of trust)

G. TERMS OF REPAYMENT OF AMOUNT BORROWED (Refer to Item 6B)

AMOUNT OF PAYMENT

$

PAYMENTS MADE

MONTHLY OTHER (Specify)

7. LIST YOUR ADDRESSES FOR PAST 5 YEARS

A. ADDRESSES (No. and street or rural route, P.O. Box, City, State and ZIP Code)

B. DATES

PURCHASER

PURCHASER

CO- PURCHASER

CO- PURCHASER

CERTIFICATIONS: I understand and agree that the attached Financial Statements are for use of the Department of Veterans Affairs and the lender who holds the mortgage on the property which I am purchasing or have purchased from the above-named seller. I also understand that VA will not examine the title to this property and that it is my responsibility to determine that the title is acceptable to me. (Depending upon your particular locality, this may be accomplished by an owner's title policy or an attorney's certificate. You may also contact the local VA regional office for additional information.) It is further understood that the release of the seller from liability to the Government on the loan or substitution of entitlement is conditioned upon my assuming all of the liabilities and obligations of the above seller arising out of the loan. This includes the liability of the seller to reimburse VA for any amount it may hereafter be required to pay, or for any loss it suffers as a result of the making, guaranty, or insurance of the seller's loan. I will assume, or have already assumed, all of the liability of the above seller arising out of the loan by written agreement in such form as VA requires.

8A. SIGNATURE OF PURCHASER

8B. DATE

9A. SIGNATURE OF CO-PURCHASER

9B. DATE

VA FORM

26-6382

EXISTING STOCKS OF VA FORM 26-6382, DEC 2007,

JUL 2013

 

WILL BE USED.

NOTE: PLEASE READ CAREFULLY BEFORE SIGNING THE FRONT OF THE FORM

PRIVACY ACT NOTICE

VA will not disclose information collected on this form to any source other than what has been authorized under the Privacy Act of 1974 or Title 38, Code of Federal Regulations 1.576 for routine uses as identified in the VA system of records, 55VA26, Loan Guaranty Home, Condominium and Manufactured Home Loan Applicant Records, Specially Adapted Housing Applicant Records and Vendee Loan Applicant Records - VA, and published in the Federal Register. Your obligation to respond is required to obtain or retain benefits. Giving us your SSN account information is mandatory. Applicants are required to provide their SSN under the Debt Collection Act of 1982. VA will not deny an individual benefits for refusing to provide his or her SSN unless the disclosure of the SSN is required by a Federal Statute of law in effect prior to January 1, 1975, and still in effect.

No release of liability of the veteran seller may be granted unless this form has been completed and received (38 U.S.C. 3713 and 3714). This form provides information that is used in determining whether VA can approve the seller's request for release of liability to the Government on the loan. Failure to provide the requested credit information could result in disapproval of your application for a loan. Under the Debt Collection Act of 1982, VA is required to collect the social security numbers of loan applicants. Under the Financial Privacy Act of 1973, VA may obtain financial records held by financial institutions in connection with the consideration or administration of assistance to you. Such financial records will be available to VA without further notice of authorization.

RESPONDENT BURDEN

We need this information to make determinations for releases of liability as well as for credit underwriting determinations for substitution of entitlement cases. Title 38, United States Code, allows us to ask for this information. We estimate that you will need an average of 15 minutes to review the instructions, find the information, and complete this form. VA cannot conduct or sponsor a collection of information unless a valid OMB control number is displayed. You are not required to respond to a collection of information if this number is not displayed. Valid OMB control numbers can be located on the OMB Internet Page at www.reginfo.gov/public/do/PRASearch. If desired, you can call 1-800-827-1000 to get information on where to send comments or suggestions about this form.

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If you want to finalize this PDF form, be certain to type in the required details in each field:

1. Start completing your 1982 with a selection of essential blank fields. Note all of the necessary information and make certain not a single thing overlooked!

How one can prepare Guaranty stage 1

2. After completing the last section, head on to the next part and fill out the essential particulars in all these blanks - D IS WAS MORTGAGE OR DEED OF TRUST, E AMOUNT OF OR BALANCE OF MORTGAGE, F SECURITY FOR AMOUNT BORROWED, AMOUNT OF PAYMENT, PAYMENTS MADE, G TERMS OF REPAYMENT OF AMOUNT, MONTHLY, OTHER Specify, LIST YOUR ADDRESSES FOR PAST, A ADDRESSES No and street or rural, B DATES, PURCHASER, PURCHASER, CO PURCHASER, and CO PURCHASER.

Learn how to prepare Guaranty stage 2

It is possible to make errors while completing your MONTHLY, and so make sure you look again before you submit it.

3. Completing CERTIFICATIONS I understand and, A SIGNATURE OF PURCHASER, A SIGNATURE OF COPURCHASER, B DATE, B DATE, VA FORM JUL, and EXISTING STOCKS OF VA FORM DEC is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

A SIGNATURE OF COPURCHASER, CERTIFICATIONS I understand and, and VA FORM JUL inside Guaranty

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