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Updated over 1 year ago,

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Greg Sanchez
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Assuming FHA loan after taking over property through Subto deal

Greg Sanchez
Posted

would it be possible to assume a loan after taking over the payments through a subto deal? essentially, if we were to take over the property with a real estate contract and have the deed recorded in our name, would we be able to then go to the existing lender and qualify for the assumption of the loan? I am assuming that the lender would find this transaction during the title search and be willing to accelerate the loan? we do qualify to assume the loan but dont want the sellers to go a different route if assumption takes longer than 30 days.

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