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Updated almost 17 years ago on . Most recent reply

User Stats

313
Posts
87
Votes
Michael R.
  • Real Estate Investor
  • New York
87
Votes |
313
Posts

Assumable Mortgage Questions

Michael R.
  • Real Estate Investor
  • New York
Posted

I started out looking for investment properties that the owner will finance. I have found a few properties that the owner will allow an me to assume the mortgage, I will give a down payment, and they will owner finance the remaining balance. I have a few questions,
-Will the lender call the loan due? I have read a lot of conflicting info on this. What could I do to minimize some of my risk?
-Will this type of loan show up on my credit report?
- If I refi after 5 years will this affect my ability to get future loans?
Thanks for all the help as always

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