ASSUMABLE LOANSAre FHA loans assumable?
Are FHA loans assumable? Lenders will only permit those loans that have a "subject to transfer" clause to be taken over through a formal assumption process. Look to your loan agreement for specific terms. In addition, you should candidly discuss any risks with your lender, and possibly consult an attorney before signing the final agreement.
Look to the loan agreement to determine if it is assumable by someone else. Then talk to the lender about specific requirements based on the value of the home. |
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