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Updated over 6 years ago on . Most recent reply

Garrett White's profile image
Garrett White's profile image
Garrett White
  • Investor
  • from Mount Ulla, North Carolina
  • Member since Jun 6, 2013
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User Stats

35
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14
Votes
Garrett White's profile image
Garrett White's profile image
Garrett White
  • Investor
  • from Mount Ulla, North Carolina
  • Member since Jun 6, 2013
Connect
Garrett White
  • Investor
  • Mount Ulla, NC
14
Votes |
35
Posts
Multi-Family and Apartment Investing

Underwriting an Assumable Loan

Garrett White
  • Investor
  • Mount Ulla, NC
Posted

I'm currently looking a multifamily deal where the seller is adamant about the buyer assuming their loan. The purchase price is $3.2m and the balance on the loan is $2m. Does anyone have experience assuming a Freddie Mac loan that can give me some insight as to how I would underwrite this into the deal? Are there any points I would Pay to assume the loan? Would I need to come up with $1.2m in Equity for the difference in this case? Would the lender allow the buyer to have supplemental loans up to 75% LTV? Any help would be greatly appreciated - the deal has me curious!

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