The Original Mortgage Does Not Change With An Assumable FHA Loan?
Posted by admin on September 27, 2008 in Finance :: Tax
If you want to get a loan that is a win win situation for the buyer and the seller, that loan would be the assumable Fha loan. This loan is a win win situation because the buyer wants to move on and not have the responsibility of the mortgage anymore but they want to save money also. The seller does not want to have to put out a lot of money and if the mortgage has been around for a while, then the buyer would end up getting the good interest rate that the seller originally got the loan for because under this type of loan, the original mortgage does not change in any way.
