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January 19, 2023
An assumable mortgage is one which provides a buyer with an opportunity to purchase their new home by taking over the mortgage payments of the previous owner. One of the primary benefits of choosing this method is that many buyers find they are assuming a mortgage with better financing and a lower interest rate - that is, if the seller purchased the home at a time when pricing and interest rates were lower. However, purchasing a home this way is not always the best option for a home buyer. Talk with a specialist today to see if this option is the best for you.