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All Forum Posts by: Skylar Como

Skylar Como has started 1 posts and replied 1 times.

Creative Real Estate Financing

Post: Assumable mortgage? How does that even work? 203k?

Skylar ComoPosted
  • Posts 1
  • Votes 0

Hi!

So Ive been banging my head against the wall for months trying to figure out how to obtain my first investment property.

Looking for owner occupied.

If FHA, I understand mortgage may be assumable. Just an example, If property is selling for 200k, seller owes 100k still, what is the process of paying the difference not out of pocket? Can I get a 203k loan to cover the 100k difference and repairs needed? I have never considered looking for a property with potential of an assumable mortgage until now. Thanks

0 Votes
Westchester County, New York