Awesome! Thank you for sharing your thoughts about Assumption Loan

Thank you for the tips Sir! This is a very valuable information as I'm planning to get a loan.

Great piece of info. Sharing this!

Thanks for sharing your insights, Dan!

Thank you Dan for educating buyers and sellers! In the meantime please inform us about the pros and cons of having a assumable loan! How I know sellers will be responsible for the loan payments if the buyer stops paying! Thank you I hope to hear from you soon!

So good I watched this first!

You are one of my favorite content creator!

cool! Thanks for providing this info!

Huge thanks for this.

Great content!

Extremely interesting and informative..

Super valuable piece of info! I doubt many people even know their FHA loan is assumable.

Thank you very much for the info, I couldn’t find a video with the first steps to do it.❤❤

@MultifamilySoCal

11 ай бұрын

You’re welcome 😊

Very nice tips.

These three things are very helpful

Yup! been hearing this Loan Assumption now.

Valuable content indeed! It's great to know these things before assuming a loan.

Glad to have known this!

this is so relevant today. you should think twice before you make these decisions

I am enlightened.

You are so thoughtful! Thanks for sharing this!

Yes! we should now first the cost in assume loan.

I think we should think twice before getting into it.

Wow, this video quality is awesome, how did you record this?

I’m a regular visitor on this channel.

This is very timely since lot of people wants to loan

Thank you!!!

@MultifamilySoCal

11 ай бұрын

You're welcome!

I have a concern in regards to the amount. If a buyer assumes a mortgage, is it strictly for the amount of the balance or can it be restructure to assume for a higher amount???

Doing this right now. Getting a 2.65% loan.

@natalieboillot

4 ай бұрын

Did you have any issues with the lender calling the loan due? Or were you very transparent with the lender upfront?

@ivanramirez9928

4 ай бұрын

@@natalieboillotyou have to be transparent. And in most cases your going through a loan servicer and not the actual lender. Loan servicer buys the debt from the lender and is receiving your monthly mortgage payments. As long as it will be your primary residence and you qualify than you should be okay. Some people may need a co-signer.. and it has to be their primary residence as well(on paper.)

@stevenchapman5810

3 ай бұрын

I myself am starting the process hopefully on Wednesday at 2 and 1/4..

Think hundred times.

0:50 Can seller refuse to let the buyer assume the assume loan? Or it just need loan company / bank agrees.

Thank you Pennywise🙌

Now I know the next time I will loan

Hey brother, I live in Southern California and am interested in this. Is there someone I can talk to from your office?

What happens to the veterans VA HOME LOAN benefit? If I sell my ASSUMABLE loan WHAT HAPPENS TO MY BENEFIT?

Currently it's 90-120 days to assume a loan.

@ivanramirez9928

4 ай бұрын

Yeah it’s crazy… I’m guessing that since loans have had low rates from 2016 - 2021 assumable loans weren’t as common or valuable as they currently are. So loan servicers are taking their sweet time to get used to the influx of assumable loans being put on their desks.

Is this the same for a car loan?

this is awesome to know. any thoughts about accounting for inflation?

@danblackwell

2 жыл бұрын

you make your money on the buy and upside in rents to hedge

How do you find a property like this where you can assume the loan?

@danblackwell

12 күн бұрын

when searching for properties online look in the description for assumable financing...should be detailed there and it's always good to ask a listing agent on a property you're interested in, if the loan is assumable

on a loan assumption is the seller able to make any money or is it just an avenue for them to get out from under the home/mortgage?

@ivanramirez9928

4 ай бұрын

The seller can make money if they have equity in the home and if the value of their property has increased. And regardless if the seller doesn’t have much equity, assumable loans are very attractive with the current rates resting around 7-8%. So that gives the seller the upper hand. An assumable loan with a low rate is good debt. Find a realtor who’s knowledgeable about assumable loans.

I was told you can’t assume a loan for a rental property… is that correct? Does it need to be for a primary residence only?

@danblackwell

12 күн бұрын

you can assume a loan on an income property. For example, we help buyers assume several Chase loans on multifamily real estate.

I’m curious why lenders would agree to let a buyer assume a mortgage at a low rate in this high-interest environment? It seems like they would be incentivized to get rid of them and write new, higher interest loans.

@javierw5395

9 ай бұрын

It keeps the business and payments/interest with their company.

@brigittecartrette

2 ай бұрын

It’s only government loans and I don’t think they can deny it, it follows the “rules”.

does a company help you d a loan assumption?

@natalieboillot

4 ай бұрын

The lender and title company can, I’d imagine.

how much was the equity portion?

@ivanramirez9928

4 ай бұрын

It depends on how much equity the owner has from mortgage payments + the increase in value of their property. If you don’t have a lot of liquid money on hand it’s best to find an assumable loan owner who purchased from 2016 - 2021. That’s the sweet spot where interests are low and equity aswell.

@danblackwell

12 күн бұрын

buyers for multifamily real estate in Socal are putting down on loan assumptions. approx 40 to 50% that's the average.

Has anyone here successfully assumed a loan?

@Visions-of-the-future

7 ай бұрын

No

@ms.B89

3 ай бұрын

Yes, it’s just like closing on a new home loan. Similar document request, process etc.

@RVAGrappling

3 ай бұрын

7 months later here, I pulled it off. It took forever, total of eight months by the end of it.

@isaiahreyes03

3 ай бұрын

@@RVAGrapplingthats awesome!

@johnm5928

2 ай бұрын

@@RVAGrapplingcurious where you're located and did you pay any extra for the house? I'm about to put mine on the market with an assumable at 3.25 so just curious what the process was like from a buyers perspective. Thanks!

You spoke to us using agent lingo. We're not Real Estate agents, so don't use industry terms, use real-world terms. I had to go and look up half of the words you used but even then it didn't make sense because they're out of context. Also don't pay for comments, it's so obvious, and it's just sad.