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Updated about 4 years ago, 10/30/2020
Multi-Family Loan Assumptions
Hello!
I have a 35 unit deal I am underwriting, but it is a loan assumption. First about the deal, 30 units are apartments there is a separate building attached to the land that is 5 retail spaces. Anyways, I know the loan term, rate and remaining balance. I know to look out for things like a balloon, assumption fee, prepayment penalty, etc.. Are there any other things I need to be aware of when underwriting a loan assumption deal?
Thank you!