GON
$100 Site Donor 2024
Looking at real estate, I started looking at assumable mortgages as a way to reduce costs. Assumable mortgages may be FHA/VA, Dept of Agriculture, etc.
Most nice homes that have an assumable mortgage go under contract quickly. I found a Seller in Arizona with an assumable mortgage at 3.75%. The Seller is listing the home at $50 per square foot higher than any other home in the subdivision. The home and subdivision are about five years old. It is very hard to try and value homes with assumable mortgage, in this case it is very easy as the subdivision has numerous like homes on the market.
Interesting valuing a low interest assumable loan can bring to the listing price of a non-custom home in a large subdivision.
Most nice homes that have an assumable mortgage go under contract quickly. I found a Seller in Arizona with an assumable mortgage at 3.75%. The Seller is listing the home at $50 per square foot higher than any other home in the subdivision. The home and subdivision are about five years old. It is very hard to try and value homes with assumable mortgage, in this case it is very easy as the subdivision has numerous like homes on the market.
Interesting valuing a low interest assumable loan can bring to the listing price of a non-custom home in a large subdivision.