Contact Information
Reginald A. Harris ERA Priority One 10110 Montwood Dr.Ste. D El Paso, TX, 79925
Office: (915) 592-0234 Cell: (915) 252-4882 Fax: (915) 594-6973
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how to find out if a loan is assumable |
How do you find out if a loan is assumable?
Look to the loan agreement to determine if it is assumable by someone else. Then talk to the lender about specific requirements based on the value of the home.
Assumable loans permit one borrower to take over a loan from another borrower without any change in the loan terms. Such loans still exist but they aren't very common or popular (for buyers) in a low-interest-rate environment. Plus, today new assumable loans are almost always adjustable rate mortgages.
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Last Updated ( Tuesday, 29 July 2008 )
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