What Is an Assumable Mortgage?

Greetings! What is an assumable mortgage? Assumable mortgages like FHA, VA and USDA, allows a new borrower to take over the existing loan from the current borrower, including the same mortgage rate, terms, condition, remaining payments and mortgage balance. Essentially, same everything, but now under the new buyer's name.

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