Is a Down Payment Required to Assume a Mortgage?

Good afternoon. Thank you for spending this part of your Thursday with us. Will you need to pay a down payment to assume a mortgage? It depends. If the current owner is behind on payments, a down payment may be required to cover those past payments. However, you may not need a down payment if you are assuming a recent VA or USDA loan.

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please give us a call 713.204.8013 or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana