My friend is selling his house and is open to an assumable mortgage.

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

You would use a mortgage servicing company just like a typical mortgage.

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

He is older and does not have a mortgage and there is a lot of deferred maintenance on the property.

The bank and mortgage company we are using is giving us a hard time about us co-signing due to my separation and new job due to only having been separated a couple weeks now.

On my properties about half of the mortgage payments go into escrow for taxes.

So to say, in a year or so you can move in is 100% mortgage occupancy fraud. 

Instead of moving into another single-family home, consider house hacking a duplex or triplex, this allows you to use low down payment loans (FHA, conventional) and offset your mortgage with rental income, accelerating your path to financial freedom.

If I secure renters and show a lease agreement and deposit can I get into lower interest rate mortgage?