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    edward scott's Avatar
    edward scott Posts: 1, Reputation: 1
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    #1

    Sep 28, 2009, 05:02 PM
    New conventional loans usually assumable with no prepayment?
    Do banks and loan brokers usually allow assumability on 30 year fixed rate conventional loans when the rate is close to 5%
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Sep 28, 2009, 05:15 PM

    It's on a case by case review basis - some loans have no assumption clauses.

    Depends on the paperwork and other factors.
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