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Updated 11 months ago on . Most recent reply
Assumable Loans - Lender Declining?
Just out of curiosity - has anyone heard of lenders declining new borrowers for assumable loans, even with strong qualifications? Interested in a property in which agent is saying lender is not approving any borrowers as the rate was obtained during the lower interest rate environment, so they’re declining everyone who’s trying?
Most Popular Reply
Quote from @Connie Chang:
Just out of curiosity - has anyone heard of lenders declining new borrowers for assumable loans, even with strong qualifications? Interested in a property in which agent is saying lender is not approving any borrowers as the rate was obtained during the lower interest rate environment, so they’re declining everyone who’s trying?
If its not a VA, SDA or FHA loan where it can be assumed then the lender will not allow it to be assumed. It is not even worth asking.
- Chris Seveney
