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Updated 10 months ago on . Most recent reply

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Angela Crockett
2
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4
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MLS listing "Assumable Mortgage"

Angela Crockett
Posted

I'm finding some listings on a popular realtor mls listing site (not sure if I'm allowed to say which one here)  that have a box on the listing which states "Assumable Mortgage" and has a "learn how" button, when I click on the button it says: "This home has an assumable mortgage"  and it lists the current average interest interest rate for April 2024 (7.00) for a new loan vs.  with assumable mortgage average interest rate (3.2) for the exact month and year when the sellers bought this home. I checked at the county and this is the correct date. 

My question is: where does the realtor site get this info that this loan is assumable? I ask because I was told by a realtor that it is an ad and that this mortgage is not assumable. But it doesn't look like an ad at all and this isn't something that is on the majority of all listings on the site. Only a few that I have seen. Could it be that it is assumable but the realtors are not aware of this? Ideas on how to proceed in a situation like this would be appreciated.

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