Home Buying in 92056>Question Details

Sydney, Home Buyer in San Diego, CA

do you know of any assumable home loans?

Asked by Sydney, San Diego, CA Sun Jul 1, 2012

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3
That is a good question Sydney.
I'm wondering if you are hoping to buy something now and let someone else assume it later?
Or perhaps you are hoping to avoid a Down Payment by assuming a loan?

It's difficult to answer without more information, but my lender friend mentioned that many loans are assumable in the first 5 years.
It's free and easy to speak to a lender about your specific situation so that they can give you the best advice - I recommend bending their ear.

And of course, if you need assistance in finding a home - I would be happy to help you in that arena. North County is a great place to live.
Tiffany Boyd
Realtor, KW Carlsbad
760 533-2244
Tiffanyhomes@yahoo
0 votes Thank Flag Link Mon Jul 2, 2012
Why would you want to assume any home loan? Yes, FHA loans may be assumable but you still have to fully qualify. Since interest rates are at an all time low, why would you want to take on a higher interest rate than you could get now? If you qualify for a mortgage, go get one at the lowest rates. If you don't qualify, you won't qualify to assume one either.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Mon Jul 2, 2012
Yes, FHA loans and typically they are fixed rates.

Best of luck
0 votes Thank Flag Link Mon Jul 2, 2012
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