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Updated almost 4 years ago, 02/13/2021

Suhailly M.'s profile image
Suhailly M.'s profile image
Suhailly M.
  • Investor
  • from Aguadilla, Puerto Rico
  • Member since Feb 15, 2017
  • Posts 4
  • Votes 0
  • Experience 5 Yrs
  • Investments 1
Connect

User Stats

4
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0
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Suhailly M.'s profile image
Suhailly M.'s profile image
Suhailly M.
  • Investor
  • from Aguadilla, Puerto Rico
  • Member since Feb 15, 2017
  • Posts 4
  • Votes 0
  • Experience 5 Yrs
  • Investments 1
Connect
Suhailly M.
  • Investor
  • Aguadilla, Puerto Rico
0
Votes |
4
Posts
Creative Real Estate Financing

Loan Assumption in Puerto Rico

Suhailly M.
  • Investor
  • Aguadilla, Puerto Rico
Posted

I am negotiating an offer in Puerto Rico, for a house that would not apply for fha/conv lending. I suggested a creative approach, assuming the current loan + the seller taking a note for the remaining amt.

The agent claims that lenders are no longer allowing loan assumptions. Does anyone know if this is true? Has this change across all states, or is this only the case in PR?

Appreciate any input. Thanks!

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