SFGATE
3 months agoOn 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. [ more ]