REAL ESTATE "A TO Z": WHAT IS AN ASSUMABLE MORTGAGE?

Thursday Nov 24th, 2022

Share
 Real Estate Terminology

When a buyer decides to take responsibility for paying a seller’s existing mortgage, this is often referred to as “assumability”. An assumable mortgage is essentially an agreement between a buyer and seller to take over an existing mortgage debt. The interest rate and the mortgage term all stay the same. There are several reasons why a buyer might want to assume the seller’s mortgage. Perhaps the seller’s mortgage rate is lower than what the buyer has been... [read more]

READ MORE

Web4Realty

Real Estate Websites by Web4Realty

https://web4realty.com/