Selling House - mortgage transfer?

[George T.]

Hello everyone,

I am selling my Memphis property  (purchased 2 years ago) and planning to purchase a house in Buffalo. I have a really bad mortgage deal on the current house as I lived in Canada when I purchased it (all interest - 8% 5yr balloon pymt 35% down) - was the only one I could qualify for.

I will now be moving to Buffalo NY attending graduate school.

As I am looking for properties here should I try to qualify for another mortgage or is there a way to transfer my current mortgage to a new property?

Are there any other creative tools I can use?

Any suggestions / tips highly appreciated.

Thanks