LOAN PROGRAMS - continued

Assumption of existing loan

In some cases, the sellers existing loan on the property can be more attractive than the loans available on the market. Study the options carefully to make sure this is really the case. If the loan is assumable, you may still have to qualify for the loan, but the fees may be less than originating a new loan. If the loan is not assumable, don't try to sneak it by the lender - it's not worth it.

continue
back