August 4th, 2008
Can The Sellers Of A House Benefit From An Assumable Loan?
The sellers of FHA assumable loans can also benefit from selling their house this way due to the fact that they can come out of it with more money. They will have a mutual agreement with the seller on the actual purchase price of the property for the Fha loan. If the purchase price is more than what is left on the mortgage, then the buyer would have to come up with another loan to make up the difference. This way, the buyer makes more money. FHA assumable loans can be very beneficial to both the seller of the property and the buyer.