Tag Archive for: assumable mortgages

Busting the Employment Myth! Assumability Part II

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Unemployment ALWAYS bottoms out right before we enter into recessions, and then surges after we are in a recession.Read More

Assumable Mortgages; How to Get a 3% Mortgage in a 7% World

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A startup called Roam was all over the news yesterday because they just got startup funding. Roam’s founder says his new company will find and advertise home listings attached to attractive assumable mortgages… and I thought good gravy (again). This is actually a double good gravy news item, given all the airplay it got, and given how trivial it is.Read More

Which Mortgage Loans Are Assumable?

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We are getting questions about Assumable Loans again, as there are a lot of sellers with very low-rate mortgages selling homes in our current high-rate environment. If those sellers could offer their low-rate mortgage along with the house, their house would no doubt be worth a lot more. Up until the 1980s, many loans were “freely assumable,” meaning that a buyer could take over the full obligation of the mortgage from the seller - without even having to qualify. But – lenders saw the potential risks involved with such loans and said “no mas” in the late 1980s. Currently – the only loans that are assumable are FHA, VA, and USDA Loans.Read More