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What are assumable mortgages, and how can they help sellers and buyers?

Seattle, Portland, San Francisco
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Assumable mortgages have been around for decades, but interest rates have been so low for the past 30 years, buyers haven't heard much about them.Whoever buys a house with an assumable mortgage can take over the existing mortgage with the interest rate already locked in place.If someone has an FHA or a VA loan, it is assumable and people should put it out there for buyers.

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