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.
Assumable mortgage
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.
