An assumable mortgage loan is a type of home loan agreement that allows a homebuyer to assume the existing mortgage of the seller when purchasing a property. In other words, the buyer takes over the seller’s mortgage terms and conditions, including the interest rate, repayment schedule, and remaining balance.
What’s Ahead For Mortgage Rates This Week – July 17, 2023
The Consumer Price Index for June rose 0.20 percent in June as compared to May’s reading of 0.10 percent growth and expectations of 0.30 percent month-to-month growth. The core CPI reading, which excludes volatile food and fuel sectors, fell to 0.20 percent growth in June as compared to May’s month-to-month reading of 0.40 percent growth.
Insufficient Property Appraisal What to Do When the Appraisal Falls Short
When buying or selling a property, one crucial step in the process is obtaining an appraisal to determine its value. Appraisals provide an objective assessment of a property’s worth, influencing important decisions such as mortgage approvals, negotiations, and even insurance premiums.
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