You know what happens when you assume. But do you know what happens when you assume a loan?
0:00 – Introduction.
2:29 – Context of Assumptions.
3:25 – Who decides if it’s assumable? Government loans are still assumable, but conventional mortgages are not. Contact your servicer — they’ll let you know if the loan is assumable.
6:22 – It’s a seller’s market. How do you market an assumable loan? Contact the assumptions department at the servicer.
8:40 – What about the appraisal? Doesn’t need it — it already appraised, but the BUYER has to come up with the difference.
11:15 – VA loans assumptions. Veteran’s entitlement matters. If another Vet tries to assume the loan the selling Vet’s entitlement is retained, which may mean they won’t be able to purchase another home using VA.
14:30 – Spend enough time researching the assumption.
15:15 – What’d we learn today?
17:01 – Out takes.
* No assumptions were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage’s Jason Christiansen, and Hive Collective at Presidio’s Tyler Cazier and “Mr. Suit” Aric Wiszt.