is a assumable mortgage worth it?

[Skylar Mcgee]

Hey, I was wondering if I should take over my cousins mortgage. Here are the numbers

-Current FHA loan is $104,000 with a 3.125 interest rate

-House appraised for $170,000

-current mortgage payment,insurance,taxes $736

-rent goes for $1,400

Also if I pay him the equity he has left in the house, will the actual equity stay in the house once he turns the mortgage over to me? I’m confused on that part

Also I’m newly self employed so getting financing isn’t easy, so I feel like this could be a great way to get started in real estate investing