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There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
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Residential / Commercial
Financing Your Home >Assuming a Mortgage
You may be able to assume the seller's mortgage liability when buying a house instead of having to apply for a new loan.
Assuming a loan could minimize your down payment or closing costs and get you a more advantageous interest rate. To know whether an assumption will work, find out the loan balance. If the balance is a small fraction of the purchase price, you will have to come up with a large down payment or get a second loan for the difference, unless the seller is willing to provide some of the financing. If the loan balance is high, the loan may have been made when interest rates were higher than they are today.
Most newer loans that are assumable have adjustable rates. If you are considering an assumption because of credit problems, you will need the lender's approval to make the transaction work.
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| Q |
What has a tremendous impact on the U.S. economy, comprising between $10-$15 trillion of the nation's wealth?
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| A |
Real Estate--it goes through cycles, but still has a long-term record of strong investment return. |
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Cary Hicks
Keller Williams-Hicks Group
1208 E. Kennedy Blvd #232
Tampa, FL 33602
Cell: 813-299-2047
Fax: 813-425-7763
info@caryhicks.com
Cary Hicks and his team are one of Tampa's top Real Estate Teams. We have extensive skills and experience working with buyers and sellers, including assisting numerous Local and National companies on their Relocations. My goal is to create a "CUSTOMER FOR LIFE" through excellent service, honesty, expertise and the personal service you deserve.
SELLING TAMPA EVERY DAY!!!!    
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