Sellers who can’t find a buyer should look at the terms of their mortgage and, if it is permitted in their area, offer to let a buyer assume their loan.Assumable mortgages made in recent years generally carry interests rates below current market rates. Plus, a buyer who can qualify with the lender can step into a mortgage without having to come up with a down payment or pay hefty closing costs.
The Website HomeAssume.com matches buyers and sellers. FHA and VA mortgages are assumable, as are many conventional adjustable-rate mortgages.
Source: Denver Post, Aldo Svaldi (08/24/2008)
This article is from Realtor Magazine Daily Real Estate News for 8/26/08.
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Thank you for your mention of our company HomeAssume.com.
We are dedicated to helping consumers and working on a way to partner with real estate agents across the country to help them with their listings that have assumable loans. Again, thank you for the mention of our company.
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