Mortgage   Everything you need to know about mortgages.

#ABCDEFGHIJKLMNOPQRSTUVWXYZ

what is...
ASSUMABLE MORTGAGE
A mortgage contract that allows, or does not prohibit, a creditworthy buyer from assuming the mortgage contract of the seller. Assuming a loan will save the buyer money if the rate on the existing loan is below the current market rate, and closing costs are avoided as well.

    Courtesy of the Mortgage Glossary
    Copyright © 2006 by 20/20 Technologies