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  Assumable Mortgage Definition
Assumable Mortgage An assumable mortgage is a mortgage that can be transferred from the current owner of a home to the buyer. For example, if you have an assumable mortgage and interest rates are currently significantly higher than when you had purchased your home, you can entice buyers with the fact that your low interest rate is assumable. When a buyer wants to assume a mortgage, they will need to meet the mortgage lenderís requirements in order to qualify.

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