Sellers and Buyers: Take Advantage of An Assumable FHA Mortgage

It doesn’t matter whether you are selling your house, or trying to buy a new one, you want to have an advantage. For sellers, you want something that sets your house apart from the rest on the market. For buyers, you want to be able to qualify for the mortgage you want and get the best deal possible. Wouldn’t it be awesome if there was something that could give sellers and buyers this advantage at the same time?

Surprisingly enough, the FHA mortgage might just be this golden goose. FHA mortgages are assumable, which means that a qualified buyer can take over, or assume, the mortgage currently held by the seller. Why would you want to assume someone else’s mortgage? Because when you assume the seller’s FHA mortgage, you assume their interest rate. Let’s talk about how the assumable FHA mortgage creates an advantage for both sellers and buyers.

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