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Assumable Mortgages

All articles tagged with #assumable mortgages

real-estate2 years ago

Discover Mortgage Rates and Meditation in One Convenient App

A new real estate start-up called Roam is offering homebuyers the opportunity to find mortgage rates at least two percentage points below the market rate by connecting them with sellers who have locked in low rates through mortgage assumption. The platform currently operates in five markets and enables buyers to easily search for homes with mortgages eligible for assumption. Roam estimates there are approximately 4.4 million homes with assumable mortgages that fit their criteria. This could be an attractive option for buyers looking to reduce their monthly mortgage payments and for real estate agents looking to generate more sales in a challenging housing market.

via USA TODAY|
#assumable-mortgages#homebuyers#mortgage-rates
real-estate2 years ago

The Rising Cost of Homeownership in Boston: Is it Out of Reach for Many?

The median house price in Greater Boston reached $910,000 in July 2023, making homeownership increasingly unattainable for many residents, particularly young people and families. The high cost of housing, coupled with additional expenses like taxes and insurance, has led to frustration and a growing desire to move elsewhere. Experts suggest having faith in the process and highlight the benefits of homeownership, such as lower interest rates compared to renting. Companies like LaMacchia Realty are exploring creative solutions, such as connecting buyers and sellers with assumable mortgages, but face challenges from national lenders and state regulations.

via CBS Boston|
#affordability#assumable-mortgages#boston
real-estate2 years ago

Navigating the Current Housing Market: Trends and Strategies.

As mortgage rates continue to rise, an emerging trend in the real estate market is the transfer of assumable low-rate mortgages from seller to buyer. Real estate agents are advertising these mortgages as an amenity, and investors are seeking out struggling homeowners willing to transfer their low-rate mortgages. However, experts caution that mortgage transfers can come with risks, and most U.S. mortgages are not directly assumable. To compensate for rising borrowing costs, mortgage companies are marketing products in which borrowers can "buy down" rates, and interest rate compensation is becoming the norm in real estate deals.

via The New York Times|
#assumable-mortgages#homeownership#interest-rates