On the House: What Is an Assumable Mortgage and How Much Money Can It Save Homebuyers?
Briefly

from SFGATE11 months ago
About 29% of all homeowners have loans with mortgage rates below 3%, according to a recent Realtor.com report.
SFGATEhttps://www.sfgate.com/realestate/article/on-the-house-what-is-an-assumable-mortgage-and-18650647.php
As enticing as those lower rates might seem, only a few kinds of loans can be assumed. Only Federal Housing Administration (FHA), U.S. Department of Agriculture (USDA), and U.S. Department of Veterans Affairs (VA) loans are eligible. Conventional mortgages generally are not.
SFGATEhttps://www.sfgate.com/realestate/article/on-the-house-what-is-an-assumable-mortgage-and-18650647.php
Read at SFGATE
#assumable-mortgages #buying-a-home #mortgage-rates #eligible-loans #credit-scores
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