DON'T ASSUME TOO MUCH
By Marilyn Lacy ~ Broker ~ RE/MAX Mountain Vista Properties
2.05.05

An assumable mortgage offers potential benefits to buyer and seller, if the fit is right. Instead of the buyer obtaining a loan that enables the seller to pay off the house, the seller’s current mortgage is “assumed” by the buyer at its present interest rate. The buyer needs to qualify only with the seller, not a mortgage company. The house doesn’t have to go through an inspection. Not all loans are assumable, but your real estate agent can find ones that are. Buyers of a home with an assumable mortgage may “luck out” on the interest rate, but will still have to pay whatever down payment is required by the seller. Take advantage of our years of experience. Give the professionals a call at 719-395-9063 or come by the office located at 108 East Main, Buena Vista.