Home Buying in Longmeadow>Question Details

prevjp, Home Buyer in Boston, MA

Hi, I'm looking for a house with an assumable mortgage that I can take over in the South Shore or North Shore. in Massachusetts.Been living sing.fam

Asked by prevjp, Boston, MA Sat Nov 2, 2013

Help the community by answering this question:


You could try searching the registry of deeds for old VA loans.
Some of those used to be assumable by anyone.
The problem is that most will be paid down significantly and you will need to make up the value difference.

Assumable mortgages usually only exist in books and TV real estate courses, today.

I would contact a local real estate professional to help with this answer and to save time and money.
(I'm on the Cape, but I can help you choose a local pro if you want help doing so.)

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0 votes Thank Flag Link Tue Nov 12, 2013
You can always rent to own with a seller willing to go that route
0 votes Thank Flag Link Sat Nov 2, 2013
I've been in the business close to 20 years and have yet to see or hear of someone taking over and assumable mortgage. Even if you could find one you would still need secondary finance to bridge the gap between the mortgage and the sales price.
Your best bet might be doing gauge a realtor they can just help you find a property that you're looking for the right price
0 votes Thank Flag Link Sat Nov 2, 2013
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