Looking for an assumable should be used as a last resort.   Why? With today's interest rates, you will likely save yourself tens of thousands of dollars over a 25 or 35 year mortgage.  It makes no sense to assume a mortgage  and possibly pay thousands of dollars over market price for the home.  Although you may find an assumable mortgage with a LOW DOWN PAYMENT and a low interest rate, you should be aware of current bank requirements (a due on sale clause in the mortgage) and have your lawyer review this matter before you assume any mortgage.

There are reasons why you might look at assuming a mortgage.  The main reason,  a lender may turn down your mortgage application. While traditional lenders have relaxed their qualification policies considerably in recent years, it's still pretty much standard that you will require a minimum of 2-3 years employment history with the same field of employment, and a fairly clean credit record. If you've had a foreclosure or bankruptcy in the past, this may also disqualify you.

Seller Assisted financing!   THE NEXT BEST THING!     If you don't have the full down payment that the bank requires for you to qualify.   We can assist you on this.   Should you have an interest in one of our properties,  ask if the seller will assist you with the down payment. 

Assuming may be better than rent!    Check it out in the Calculators section. Calculate the value of buying  over renting, at the assumable rates (use 1% over the current 5 year interest rate in your calculation -  see rate chart link)!  Would you be better off owning your own home?   If we can find you a home with an interest rate near the 5 year bank closed rate,  - would you be interested? Build equity in your own home or pay rent - PICK ONE.   If you can get into a home today with seller assisted financing, in two years or less you may qualify for your own mortgage.  Act now, don't miss out on the market growth.

For current properties available with us, look in the listing section, you can also email us or give us a call  for other exclusive properties.