My advice is to send your sister to her bank and/or other lenders.
She must qualify for a loan anyway. She may or may not want an
Go to her bank with her. Know how much you owe and have an idea of current value. Get the loan
officer's best advice governing your specific situations.
The qualified assumption process can be a clumsy one.
Good luck and let me know if I can help.
Second, is that rate for owner-occupied home?
Third, the current rates today are right around 5-5.25 depending on the loan, the downpayment and the credit score.
how would it benefit your sister if she assumes your loan? Is the condition for her to take over the balance, and how much of a down payment are you requiring?
Assumption of a loan is nearly the same as getting a new loan because she will still have to qualify for it, the lender will want to go through the motions of getting the information they need about her credit-worthiness and ability to pay as well as come up with the downpayment, they will still have to draw up loan documents for her to sign, and they will still have to do a transfer --- pretty much the same things they do for a new loan.