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