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"We Loved Our Experience!"
“We absolutely loved working with Amanda Howard and her Team. She helped us find everything we needed and wanted in a home. It was an easy and fun experience from the beginning. In the time we’ve known Amanda, we’ve created a sincere friendship with her and her family, and I’ve recently joined her team as Client Care Manager. We’re not just satisfied customers, we’re clients for life.”
Chad and Kandi Wright
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Financing Your Home >Assuming a Mortgage
You may be able to assume the seller's mortgage liability when buying a house instead of having to apply for a new loan.
Assuming a loan could minimize your down payment or closing costs and get you a more advantageous interest rate. To know whether an assumption will work, find out the loan balance. If the balance is a small fraction of the purchase price, you will have to come up with a large down payment or get a second loan for the difference, unless the seller is willing to provide some of the financing. If the loan balance is high, the loan may have been made when interest rates were higher than they are today.
Most newer loans that are assumable have adjustable rates. If you are considering an assumption because of credit problems, you will need the lender's approval to make the transaction work.
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| Q |
What does the term Curb Appeal mean?
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| A |
This term describes how homes look from the street; this first impression is very important to prospective homebuyers. |
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