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Updated over 8 years ago on . Most recent reply

Kevin Greer's profile image
Kevin Greer's profile image
Kevin Greer
  • Loan Officer / Investor
  • from Chicago, Illinois
  • Member since Aug 28, 2015
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User Stats

23
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3
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Kevin Greer's profile image
Kevin Greer's profile image
Kevin Greer
  • Loan Officer / Investor
  • from Chicago, Illinois
  • Member since Aug 28, 2015
Connect
Kevin Greer
  • Loan Officer / Investor
  • Chicago, IL
3
Votes |
23
Posts
Real Estate Deal Analysis & Advice

Assumable Acquisition with a pre-payment penalty

Kevin Greer
  • Loan Officer / Investor
  • Chicago, IL
Posted

An associate of mine has a deal on the table and I would like to get your opinion. It is an acquisition of a 400+ unit complex. The mortgage is a Fannie Mae assumable mortgage. There is a pre-payment penalty on the mortgage and there is three years left on the term. My associate is concerned about the potential of rising mortgage rates over the next four years because of our new President and the pre-payment penalty is steep. What would you recommend?

Thank You

Kevin Greer

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