You Can Still Get a Mortgage With a 3% or Less Interest Rate!
Hope is not lost if you qualify for these types of mortgages
Published in
Jul 30, 2024
Did you know you can assume a seller’s mortgage and keep their interest rate? No? Keep reading…
Not all types of mortgages are assumable, but if you qualify for an FHA or VA loan, you could assume the seller’s mortgage if they also have one. Assuming the loan means you would take over the existing mortgage loan amount, terms, and interest rate.
But what about the balance due to purchase the house? You could pay cash for the balance or take out a second loan for the difference at the current interest rate.
You’re welcome.
