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How much do you need to assume a mortagae

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Icon Mini Profile tweety0368





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Post Posted: Fri Nov 13, 2009 10:36 am    Post subject: How much do you need to assume a mortagae
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i know someone who has a home and they are willing to let me assume the mortgage. And they think it would only be what is needed at closing.
Icon Mini Profile gmakerley
gmakerley
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Post Posted: Fri Nov 13, 2009 12:10 pm    Post subject:
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tweety the whole matter of assumption is up to the mortgage lender. what a current owner is open to isn't indicative of what the lender will be seeking. the only way to determine what you need is to have your seller contact the lender to see if it can be done, and then determine what's required.
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