Are there any houses for sale in huntsville, texas, with assumable loans on them?

Kathy Sheriff
Other/Just Looking
Willis, TX

Answers (1)
Craig LaMar
Agent
Hampton Cove, AL
FIRST ANSWER

Hi Kathy,
Hello from Huntsville, AL. Not in TX, but assumable loan opportunities are pretty much the same everywhere. For several years now, lenders with which I am working no longer allow the assumption of a mortgage. So as homes change hands and new mortgages are created, there are now very, very few if any houses for sale which would have assumable loans.
There are exceptions. I think VA still can be assumed, and if a seller allows a purchaser to assume that loan, then the seller is still responsible for that mortgage. So most are not willing to allow someone else to assume their loan.
I am a real estate broker and not a lender. You should check with a local lender to get their comments on assumable loans as they deal with it everyday.

Sun Oct 26 2008, 06:43

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 59
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback