cover of episode Another Mortgage Trend That Scares Me

Another Mortgage Trend That Scares Me

2024/8/26
logo of podcast George Kamel

George Kamel

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Assumable mortgages, also known as assumption loans, involve taking over the seller's existing mortgage instead of obtaining a new one. The primary appeal lies in assuming the seller's interest rate, which can lead to significant savings, especially in a high-interest-rate environment. However, assumable mortgages come with several drawbacks.
  • Assumable mortgages involve taking over the seller's existing mortgage.
  • Main advantage: Assuming a potentially lower interest rate.
  • Assumable mortgages are not a scam but have limitations.

Shownotes Transcript

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In this episode, we’ll talk about what an assumable mortgage is, what it’s not, and why the likelihood of getting one is about as slim as Bill Gates using a Mac.

Next Steps 

**🎥 **Watch my video "4.5 Million People Bought Homes Last Year (Here’s How).") 

 

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