Thank You Mark and Pat!
Thank You for all you have done to help us with the purchase of our first home! Without your help we would not be dreaming of finally settling down in a house that truly is our dream come true.
"Jim and Roberta"
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Financing Your Home >Assuming a Mortgage
You may be able to assume the seller's mortgage liability when buying a house instead of having to apply for a new loan.
Assuming a loan could minimize your down payment or closing costs and get you a more advantageous interest rate. To know whether an assumption will work, find out the loan balance. If the balance is a small fraction of the purchase price, you will have to come up with a large down payment or get a second loan for the difference, unless the seller is willing to provide some of the financing. If the loan balance is high, the loan may have been made when interest rates were higher than they are today.
Most newer loans that are assumable have adjustable rates. If you are considering an assumption because of credit problems, you will need the lender's approval to make the transaction work.
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What area was designed to look like a 1940s southeastern town with traditional architecture?
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Disney's "Celebration" in Orlando, FL, will eventually have 8,000 houses and many commercial tourist attractions. |
 See More Real Estate Trivia > |
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Mark Cole and the Cole Team
Realty World Executive Group
3521 U.S. Hwy 17 Suite B
Fleming Island, FL 32003
904-707-2287
Fax: 904-215-1214
markcole1@NUMBER1EXPERT.com
Integrity, skill, care and diligence is what sets us apart from the crowd. Buying or selling a home is more than a sign, magazine ad or an internet posting. It takes knowledge and hard work to fulfill our customers needs. My success is that I personally care for every need of my customers. I am not happy until you, my customer are happy. My team works as hard as I do because I demand it. I will always make your needs my needs. Call today for a free consultation of you and your families home needs. Discover why "The Right Agent Makes All The Difference In The World"   
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