Taking over mortgage payments

[Michael Acheampong]

I’m in the process of possibly purchasing my brothers duplex. The goal is to apply for a mortgage at the same bank he applied for his mortgage and take over his mortgage.

First, I don’t even know if that’s possible.

Also if I purchase the duplex, how can he get his equity in the home if my down payment isn’t enough for his equity.

My goal is to do this to save me some interest since I believe he’s paid off a good chunk of it.

Is it a good idea to take over his mortgage or just start over.

Are there any special fees I have to pay for this process?

Is it worth it?

Thank you!