Mortgage Hack: Homebuyers Score Low Rates By Finding Assumable Loans Combined with stubbornly-high house prices, higher mortgage interest rates are putting homebuyers behind the 8-ball. Many resourceful house-hunters are doing an end-run around that doubly-daunting dynamic — by seeking out sellers who have assumable, low-rate mortgages. As the name implies, an assumable mortgage is one that allows a buyer to essentially step into the shoes of the seller, taking over the loan as it is — with the same interest rate, payment and schedule. Generally speaking, the only assumable loans are those backed by a federal agency such as the… — Continue at ZeroHedge News : Read More
