Quote:
Originally Posted by TheTimeTraveler
Interesting that you found a very rare assumable loan. Is that a VA loan?
For the younger Forum readers, most every home loan written was assumable up until the late 1960's or early 1970's. It was then that the lenders woke up and realized that they could make a lot more money by writing a higher priced fresh loan (charging "points" and closing costs). Assumable loans all but disappeared.Profits always seem to rule the day.......
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Yes, it's a 2016 brick-and-mortar VA bank loan, at 3.125%
Just found out when I requested a pre-purchase application, now enroute, post-haste, to me.
