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Updated about 2 years ago on . Most recent reply

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Logan Lehmkuhl
1
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Help!!!! How to finance

Logan Lehmkuhl
Posted

My buisness partner and I are new to real estate investing. We only have 1 rental as of now. We came across a deal where we found out about a motivated seller that wanted to sell off market. She is going through life problems and was told by her lawyer she needs to sell the house. The house is a nice 3/2 with garage and comps in the area ARV is about 160-175k. She owes 119k on it and is willing to do subject to mortgage financing. We would need to put about 10k into the house to be able to rent it out. We are confused on the assumable mortgage process as nobody wants to give us any info including her mortgage lender. It's a USAA loan which I've read are assumable. Anybody with experience in this please give some insight if you could! Thank you!

Most Popular Reply

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2,649
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Kerry Noble Jr
  • Investor
  • Indianapolis, IN
1,097
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2,649
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Kerry Noble Jr
  • Investor
  • Indianapolis, IN
Replied

in Subject to.....you dont actually assume the loan.....

  • Kerry Noble Jr
  • Loading replies...