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Real Estate Glossary

Assumable mortgage

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Richard Wilson
Written by Richard Wilson

A type of mortgage, this can be transferred without having to change its terms and conditions. Once it is transferred, the buyer shoulders all responsibility for the payment. Assumable mortgages make a property more appealing once interest rates have risen as the new buyer’s payments are at the original rate.

A type of mortgage, this can be transferred without having to change its terms and conditions. Once it is transferred, the buyer shoulders all responsibility for the payment. Assumable mortgages make a property more appealing once interest rates have risen as the new buyer’s payments are at the original rate.

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Richard Wilson

Richard Wilson

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