Overview There are many loan options available to homebuyers. Whether a first-time buyer or a veteran in the market, acquiring the right loan and knowing the advantages and disadvantages is essential. In some cases, buyers assume a secured loan from the seller, also known as an assumption. … [Read more...] about What is an assumable loan, and what are some practical considerations?
Ideally, a buyer enters the housing market with a pre-approved loan and searches for a home based on that loan amount with specific mortgage rates. However, with rising interest rates, a buyer may be looking for ways to obtain a lower interest rate. One of those ways is by assuming the seller’s … [Read more...] about Loan Assumptions