How a rare type of mortgage is landing homebuyers a 3% rate
Interest in assumable mortgages is rising as homebuyers seek alternatives to current high rates.
3 couples who recently got mortgage interest rates under 3% share how they did it
Assumable mortgages offer a strategy for homebuyers to secure lower interest rates than current market offerings.
On the House: What Is an Assumable Mortgage and How Much Money Can It Save Homebuyers?
Assumable mortgages are original loans taken out by sellers when they purchased their homes, which new buyers can then assume.
Only FHA, USDA, and VA loans are eligible to be assumed, and buyers still need to have high enough credit scores and low enough debt to qualify for these loans.
How a rare type of mortgage is landing homebuyers a 3% rate
Interest in assumable mortgages is rising as homebuyers seek alternatives to current high rates.
3 couples who recently got mortgage interest rates under 3% share how they did it
Assumable mortgages offer a strategy for homebuyers to secure lower interest rates than current market offerings.
On the House: What Is an Assumable Mortgage and How Much Money Can It Save Homebuyers?
Assumable mortgages are original loans taken out by sellers when they purchased their homes, which new buyers can then assume.
Only FHA, USDA, and VA loans are eligible to be assumed, and buyers still need to have high enough credit scores and low enough debt to qualify for these loans.
Assumable mortgage platform Roam partners with national lender on down payment assistance
Roam Boost by Roam and Spring EQ offers second-lien loans for assumable mortgages to assist homebuyers with down payments, catering to credit scores of at least 640.