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what does assumable mortgage mean

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What is a Non Qualifying Assumable Mortgage? What is an assumable mortgage? – Investopedia – In most cases, the potential buyer goes to the bank and takes out a mortgage for the purchase. The assumable mortgage is an alternative to this traditional technique.

Assumable Mortgage financial definition of Assumable Mortgage – Assumable Mortgage. A mortgage contract that allows, or does not prohibit,a buyer from assuming the mortgage contract of the seller. When a home buyer assumes responsibility for a home seller’s existing mortgage, the buyer assumes all the obligations under the mortgage, just as if the loan had been made to her.

Affinity Plus Federal Credit Union : Mortgage Glossary – An adjustable rate mortgage, commonly referred to as an ARM, is a loan type that. See assumable mortgage.. This means that if you make the minimum monthly payment during the life of the loan the entire balance will not be paid in full.

Real Estate Glossary – Diane Moser Properties, Inc. – A type of blended mortgage loan which avoids private mortgage insurance (pmi). It consists of an 80% – 30 year first lien at market rates, a 10% – 15 year second.

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Investors Real Estate Trust F2Q09 (Qtr End 10/31/08) Earnings Call Transcript – Investors Real Estate trust does not undertake a duty to update any forward-looking. Of IRET’s $1.066 billion of mortgage indebtedness, only 1% is variable rate, less than 1% matures in the.

Assumable Mortgages in Canada – CMI Mortgage Canada – Assumable mortgages – a brief explanation. An assumable mortgage is a financial arrangement under which the outstanding mortgage on a home or property is transferred from the existing homeowner to the person buying the home or property. An assumable mortgage becomes an attractive option for a home buyer when interest rates are rising,

Assumable mortgage Definition | – Assumable mortgage is a term it pays to understand. Bankrate explains what it is.

The Assumable Mortgage: 5 Things To Know – Trulia's Blog – In the case of an assumable mortgage, the buyer has to pay upfront for the amount of equity the original owner has in the home. If the owner has little equity, this could mean a lower upfront cost for the buyer.

An Assumable Mortgage can be Key to Buying or Selling a Home – Check today’s mortgage rates. Assumable Loans. Typically only VA or FHA loans can be assumed.. You bet it does. Having an assumable mortgage at an attractive rate will make the home easier to sell and buy. It’s an assumption you can count on.