Showing posts with label Assumable Mortgage Louisville. Show all posts
Showing posts with label Assumable Mortgage Louisville. Show all posts

Assumable Mortgage Louisville, KY - Discover Your Government - GovGuru.com

Assumable Mortgage Louisville, KY - Discover Your Government - GovGuru.com



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Assumable Mortgage

Assumable Mortgages are a type of financing arrangement in which the outstanding mortgage and its terms can be transferred from the current owner to a buyer. By assuming the previous owner’s remaining debt, the buyer can avoid having to obtain his or her own mortgage. Buyers are typically attracted to homes with existing assumable mortgages during times of rising interest rates. This is because they can assume the seller’s mortgage, which was created when interest rates were lower, and use it to finance their purchase. If the home’s purchase price exceeds the mortgage balance by a significant amount, the buyer will either need to provide a sizable down payment or obtain a new mortgage anyway. For example, if a buyer is purchasing a home for $250,000, and the seller’s assumable mortgage only has a balance of $110,000, the buyer would need a down payment of $140,000 to cover the difference, or would have to get a separate mortgage to secure the needed funds.
fha assumable homes in louisville

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No Closing Costs Mortgage Louisville Kentucky




Zero Closing Costs Mortgage in Louisville Kentucky . Apply Below for your free No Closing Costs Mortgage.



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Joel Lobb
Senior  Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346
 

 



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