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    bawillis's Avatar
    bawillis Posts: 1, Reputation: 1
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    #1

    May 3, 2007, 07:26 AM
    Assumable loans
    Are there still new assumable mortgage loans available today? Where can I find one? Are the interest rates comparable with other types of loans?
    RichardBondMan's Avatar
    RichardBondMan Posts: 832, Reputation: 66
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    #2

    May 3, 2007, 07:50 PM
    I assumed one back in 1993 and was told there were not many left then. I am not an agent, broker or real estate attorney and am involved in the real estate lending or sales business, so maybe someone else can chime in. I don't think there are many left though.
    Home Retention Agency's Avatar
    Home Retention Agency Posts: 23, Reputation: 3
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    #3

    May 15, 2007, 05:31 PM
    Almost none.

    I believe that VA loans are assumable, but they only account for around 2% of all purchase loans. Factor in re-fi's and that percentage drops to less than 1%.

    What would be you reason for wanting to find one?
    mother of five lovebugs's Avatar
    mother of five lovebugs Posts: 3, Reputation: 1
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    #4

    May 31, 2007, 06:52 PM
    Quote Originally Posted by bawillis
    Are there still new assumable mortgage loans available today? Where can I find one? Are the interest rates comparable with other types of loans?
    I am selling my home, What I am looking at doing is a wrap around loan. I am not sure if this is the same. This is were someone is going to mabey take over my loan as of now for $502. When the value of my home is $550. Dut to the fact can't sell it in this market right now and the buyer can't get good loan due to credit. Therefore I add him to my title and he takes over payment.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    May 31, 2007, 07:12 PM
    About the only ones out there today are the VA loans,
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