See on Scoop.it – Midtown Atlanta Conversations and Condos
Mortgages from the F.H.A. and Department of Veterans Affairs have a little-known feature: assumability.
Homeowners with a mortgage insured by the Federal Housing Administration or the Department of Veterans Affairs should consider using their loan terms as a marketing tool when it comes time to sell. The FHA assumable mortgage may be the best marketing tool for the Seller!
Mortgage loans from both government agencies include a little-known feature known as assumability. In other words, the buyer of a home financed with an existing F.H.A. or V.A. loan may be able to take over, or assume, the seller’s loan, under the same terms, rather than take out a new mortgage.
During periods when interest rates are rising, homes offered for sale with an assumable, lower-rate mortgage may have extra appeal for certain buyers.
See on www.nytimes.com
Thom Abbott
I'm a real estate broker living and selling the City lifestyle of Intown Atlanta Communities. From the high rise condominiums of Midtown and Buckhead to the bungalows and traditional homes of Chamblee, Brookhaven and Doraville, I enjoy introducing people to parts of Atlanta and everything they have to offer. I'll help you find the right home in any of these or other exciting Intown Atlanta communities that border Midtown Atlanta and The Gold Line!!
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