Assume A Low Rate

WHAT TYPE OF LOANS ARE ASSUMABLE & WHO QUALIFIES?

Almost all qualifying assumable mortgage loans in existence today are either VA, FHA & USDA guaranteed loans. VA loans can be assumed by Veterans and non-Veterans alike! However, only assumptions by another Veteran with VA entitlement will release the borrower's entitlement from the note by substituting the buyer's entitlement. Government assumption fees may vary. FHA & USDA loans can be assumed by any qualified buyer as long as they meet the main requirements. Investors can assume some loans depending on the loan servicing company.

Example:
Interest Rates & Payments
This chart shows the advantage of a lower monthly payment by assuming the existing lower interest rate!
Payment$2,661.21$400,0007.0%November 2022 Rate
Payment$1,708.07$400,0003.1%December 2021 Rate

$953.14

3.9% Increase
56% Increase

Example:
Interest Rates & Purchasing Power
This chart shows the advantage of paying the difference between the existing balance and the list price by having a lower % on the reduced mortgage amount!

Payment$1,708.07$500,0003.1%December 2021 Rate
Payment$1,708.07$320,9207.0%November 2022 Rate

-$179,0803.9% Increase
36% Decrease

*Based on purchase price minus 20% down payment

For more detail give me a call at 719-332-9967 or email at dave@wesellmore.net