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There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
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You may be able to assume the seller's mortgage liability when buying a house instead of having to apply for a new loan.
Assuming a loan could minimize your down payment or closing costs and get you a more advantageous interest rate. To know whether an assumption will work, find out the loan balance. If the balance is a small fraction of the purchase price, you will have to come up with a large down payment or get a second loan for the difference, unless the seller is willing to provide some of the financing. If the loan balance is high, the loan may have been made when interest rates were higher than they are today.
Most newer loans that are assumable have adjustable rates. If you are considering an assumption because of credit problems, you will need the lender's approval to make the transaction work.
Bill and Debbie Nelson, CRS and GRI Bill & Debbie Nelson and Marsha Dorris Weichert, Realtors - Lake Realty 6268 S. Kings Ranch Rd., Suite #12 Gold Canyon, AZ 85118 602-300-2777 602-686-6989 480-213-7275 Fax: 480-452-0938 Email: movetogoldcanyon@NUMBER1EXPERT.com
The Bill and Debbie Nelson Team - a Priceless Combination in Gold Canyon, Apache Junction and East Valley real estate. Bill & Debbie Nelson and Marsha Dorris find few things more rewarding than helping people connect with their dreams. Whether you�re looking to buy or sell a permanent residence or a vacation home, your move is sure to be a rewarding experience with these seasoned professionals by your side.
www.MovetoGoldCanyon.com
is brought to you by Bill and Debbie Nelson
NUMBER1EXPERT in real estate for Gold Canyon, Mesa and Apache Junction, Arizona
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