Real Estate Term: Assumable Mortgage

Mortgage rates have remained stubbornly high.

But did you know that homebuyers can take over certain types of mortgages from the seller—at their original interest rates?

These loans, called assumable mortgages, may include U.S. government-backed FHA, VA, and USDA loans when certain criteria are met.

If you have an assumable loan with a low interest rate, it could be an important selling point for your home.

Reach out for a free consultation to learn more!