Hitting The Interest Rate Jackpot: Balancing The Benefits Of An Assumable Mortgage
By ERIN FLYNN JAY Buyers who are sensitive to high mortgage rates have developed an interest in assumable mortgages, betting they are the ticket to avoiding excessive costs, but are they worth the hype? An assumable mortgage lets a homebuyer take over the seller’s existing mortgage, including its terms and interest rate. It’s like adopting a…