To assume the payment on the mortgage of another person they must first have a mortgage that is assumable. Many mortgages are not. Those that are assumable fall into two categories - those that require qualifying and those that do not. The "do not " kind are becoming rare. Generally in today's low interest environment it is generally better to get a new mortgage if you are qualified. If not, then you can hope to find someone with a mortgage that can be assumed without qualifying. The other downside is that generally those are older loans with high equity so you would likely have to pay a good bit down. Recommend you sit down wity a good mortgage person and discuss your specific situation with him or her.... more
Set your sights a little more realistically:
You don't need that house now; you can work up to it over the next year or two; get your credit in shape, put aside some savings, and look for stepping stones that will get you there.
That house is not the only house in the world.
Imagine how you will feel in two years, having sacrificed and slaved to get your dream.... more
I have a lender you can call that works 24/7 his name is Gabe with 1st Home Mortgage located in Mt. Pleasant give him a quick call or text and he can answer that for you, all lenders aren't the same. My contact info. is below if you want to call me to see if you are really getting a good value on your home, I have one listed in that area that is about 1900 sq.ft. going for around $125K and is practically a new home.
There are always buyers interested in purchasing. The real question could be stated as "is someone willing to any buy any particular property at a price agreeable to the seller"?
In the strong buyers market we live in today that is a complex question based on price, condition of the property, location, financing, schools, taxes, marketing, etc.
I hope you find someone who contacts you through your post and buys your home at the price you want. If you become frustrated and want someone to help, let me know.
Carolina One Real Estate
567 Crowfield Blvd
Goose Creek, SC 294456