Assumable Loans: Unlocking Hidden Value in Home Buying

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Assumable Loans:
Hidden Gems or Potential Pitfalls?

Advantages

• Lower interest rates

• Reduced upfront costs

• Shorter loan term

• Potential long-term savings

Challenges

• Limited eligibility

• Possible lender delays

• Restricted to seller's lender

• May require additional financing

An assumable mortgage lets a homebuyer take over the seller's loan, typically keeping the original interest rate and terms.

Assumable Mortgages:
Your Secret Weapon in Home Buying?

I learned so much about assumable loans from this page. The pros and cons section was very informative and helped me make a decision.

Kathy C.

★★★★★