First thing you want to do is get pre-approved. This will dictate whether or not you are in position to take on the mortgage. After your pre-approval, everything else will come together. I can get a pre-approval done for you in a very short time. Contact me or click on my link to my web site, and it will direct you to a loan application. You need to fill it out inorder to get pre-approved.
Best Of Luck

if this is an investment property for the landlord, chances are that they have a higher interest rate, than you may qualify for, so therefore go out and get prequalified and try to purchase yourself..you may want to check and make sure the property will appraise for the purchase amount as well.

Good Afternoon Trish,

Most mortgages unless they are very old, have a "no assignment" clause right in them. My suggestion would be to contact one of your local lenders, and get yourselves pre-qualified for an outright purchase. Have you discussed terms or pricing? If you would like, you can contact me with the address and specifics of the home, and I can provide you with a market analysis of the home's value. Don't make the mistake of overpaying just because the landlord is offering you 'a deal'. I have seen it many times. It really pays to have representation when purchasing a home, and the best part is that it costs you nothing http://www.mhansen@c21shoreland.com

Trish,
If you want to purchase the property, there may be several options available. But assuming the landlord's mortgage is likely NOT one of them. Only a handful of mortgages are assumable, such as VA or FHA loans from a certian period of time. If that's the case, you would still need to qualify for the loan, in which case you would likely be better off locking in at today's rates and terms.

In any case, the first step is to speak with a mortgage professional for approval.

Good luck!
Paul Beatty