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Redfin Real Estate Forums :
Seattle :
Loan Assumptions
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Re: Loan Assumptions
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LoansbyJW
Redfin Preferred Lender
Posts: 619
Registered: 04-30-2009
Message 8 of 13
Viewed 379 times
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FNMA / FHLMC 30 fixed loans or Bank Portfolio loans are not assumable. FHA loans and most ARMS once they've had their first adjustment are usually assumable. Assumable loans are going to be VERY nice to have in the future. Selling your home in a high rate environment with an assumable loan puts you, the seller, in a great position. Assumable loans, done through the official bank and servicing channels, is a great thing for buyers and sellers. The buyer gets a loan already on a solid amortization path, more often than not also at a great rate. The seller has an added benefit when marketing his property. Can't go wrong here. Thanks for reading, LoansbyJW
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11-01-2009 04:12 PM
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