Home Buyers & Mortgage Loan Assumptions
Our goal is to help home buyers purchase a home by completing a mortgage loan assumption of the existing mortgage at a lower rate and lower payment than is currently available in the new mortgage market.
Mortgage Loan Assumption Steps For Buyers
Step 1
Contract a home with an existing assumable mortgage. Most commonly this home will have an FHA, VA, or USDA guaranteed mortgage. An interest rate below current market interest rates is ideal.
Step 2
Assumption Solutions team will determine if you meet common mortgage loan assumption requirements.
Step 3
The buyer and seller must both engage the Assumption Solutions team and provide all the required documents necessary to process the loan assumption.
Step 4
Once the mortgage loan assumption is approved by the existing mortgage holder, closing can take place between the buyer and seller. A buyer assistance fee of $750 will be collected. The first $50 is paid at engagement and remaining $700 paid at approval.
Share the Big News
You’re now a homeowner! Likely at a much lower interest rate and monthly payment that would be available in the current market. Let us know if we can help you friends or family as well.
Start the Process
Start your loan assumption file and upload documents required for assumption pre-qualification and final approval.
Mortgage Loan Assumptions for Home Buyers
Ready to start the process or just have questions? Drop us a line or give us a call.